Vertical Cold Storage Adds 10th Facility to Network
July 09 2024 - 10:30AM
Business Wire
Dothan, Alabama location is the latest
acquisition in the rapidly growing Southeast United States
Vertical Cold Storage, a developer and operator of
temperature-controlled distribution centers sponsored by real
estate investment firm Platform Ventures, has entered into a
purchase agreement to acquire the frozen distribution center from
Dothan Warehouse in Dothan, AL. The Dothan facility focuses on
poultry for export markets and is located close to several
interstate highways, enabling less than one day delivery to the
ports of Jacksonville, FL; Mobile, AL; New Orleans, LA; Panama
City, FL; and Savannah, GA. The operation employs 40 full-time team
members. Vertical Cold Storage, which is not acquiring Dothan
Warehouse’s ambient and refrigerated facilities, expects the
acquisition to close in August.
“This latest acquisition shows our commitment to the protein
industry and to building a nation-wide network of high-performance
frozen and refrigerated warehouses. We look forward to supporting
the many great processors and retailers in the region, and to
welcoming the Dothan team members on board,” said West Hutchison,
President and CEO of Vertical Cold Storage.
The USDA-certified Dothan facility is more than 109,000 sq. ft,
with 10 dock doors. The warehouse, which opened in April 2019 and
was expanded in January 2023, is well-suited for a wide range of
frozen foods and features high-capacity blast freezing, export
services, case picking, cross docking, and kitting
capabilities.
“We’re confident that Vertical Cold Storage will carry forward
the success of our frozen distribution center. We trust West and
his team to take great care of our customers and employees, just
like we’ve always done. This move means our facility will keep
growing and improving, and that’s really important to us,” said
Turner Jones, President of Dothan Warehouse.
As with other recent acquisitions, Vertical Cold Storage will be
implementing its customized warehouse management technology and
will deploy new best practices focused on improving product
throughput while maintaining the highest levels of food and worker
safety.
About Vertical Cold Storage
Vertical Cold Storage is an industry leader in delivering
reliable, flexible, and cost-effective cold storage and logistics
solutions for the food and beverage industry. We are committed to
giving our customers the competitive edge they need to consistently
thrive in the complex and ever-evolving business environment of
perishables. We offer temperature-controlled cold storage
warehousing and distribution solutions in the cities and
surrounding areas of Chicago, Dallas-Fort Worth, Indianapolis,
Omaha, Charlotte, Miami, Kansas City, and more. Our services are
backed by a team of industry veterans and cutting-edge technology
with a singular focus on quality results and excellent customer
service. Vertical Cold is focused on acquiring and integrating
existing and developing greenfield cold storage facilities and
providing a consistent customer experience across our entire
platform. More information is available at
www.verticalcold.com.
About Platform Ventures
Platform Ventures (or the “Firm”) is an independent,
entrepreneurial private investment firm that invests through closed
and open-end opportunistic real estate funds with scalable
investment strategies. The Firm’s operator-oriented investment
platform is vertically integrated across logistics, housing, and
real estate credit through subsidiaries that include a wholly owned
SEC registered investment advisor. The Firm invests selectively
across the capital structure in direct acquisitions, joint
ventures, recapitalizations, and reorganizations. Platform
Investments, which is owned by Platform Ventures, manages over $3.2
billion of assets1 on behalf of institutional, family office and
high net worth investors. Visit platformv.com for more
information.
1) As of March 31, 2024. This includes assets managed by our
affiliates who are not registered investment advisers, and this
amount does not represent Regulatory Assets Under Management as
defined by the SEC. SEC registration does not imply a certain level
of skill or training.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240709778019/en/
Media Susan Hrabik Vertical Cold Storage (402) 880-5592
susan.hrabik@verticalcold.com