KKR & Co. is reportedly in preliminary discussions to acquire the Asia-Pacific cold storage business of Nasdaq-listed Lineage Inc. The potential deal, which could also involve infrastructure investment firm Morrison & Co., is valued at more than $2 billion.
Lineage is the world’s largest owner and operator of cold storage warehouses. Demand for cold storage facilities in Asia-Pacific is growing, driven by increased demand for temperature-sensitive goods such as pharmaceuticals and fresh food. The discussions are at an early stage, and there is no certainty that a formal deal will be reached.