KANSAS CITY, Mo.--(BUSINESS WIRE)--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.
