Lineage Logistics, provider of temperature-controlled logistics solutions, agreed to acquire Preferred Freezer Services, a global network of temperature-controlled warehouses. This transaction marks a significant milestone for the temperature-controlled logistics industry. Customers will now be able to benefit from the complementary capabilities of two of the industry’s most innovative companies. Financial terms of the transaction were not disclosed, but it is rumoured to be over $1bn. “We are thrilled to welcome Preferred into the Lineage family of companies,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “Bringing their first-class management team, deep industry experience and network of strategically located facilities into our organization will enable us to provide best-in-class service offerings for customers worldwide. Lineage is now better positioned than ever to meet the needs – and exceed the expectations – of food customers on a truly global scale.”