Vertical Cold Storage Completes Purchase of Dothan Facility

KANSAS CITY, Mo.--(BUSINESS WIRE)--Aug 13, 2024--

Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, finalized the acquisition of the frozen distribution center from Dothan Warehouse Investors in Dothan, Alabama. Terms were not disclosed.

“We are excited to add Dothan to our growing network of temperature-controlled distribution centers and are looking forward to partnering with them as we focus on integrating the business and serving our customers. Dothan is the third operation we’ve added to our network this year and we will finish the year with at least one, maybe two more,” said West Hutchison, President and CEO of Vertical Cold Storage.

The Dothan facility opened in April 2019 and is located near several interstate highways. The primary focus of the site is providing export services to local poultry producers but is well-suited to support a broad range of temperature-controlled distribution services. It has one-day delivery service to ports in Florida, Alabama, Georgia and Louisiana, is USDA-certified, and employs 40 full-time team members.

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 assets 1 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/20240813815174/en/

CONTACT: Media

Susan Hrabik

Vertical Cold Storage

(402) 880-5592

susan.hrabik@verticalcold.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA LOUISIANA FLORIDA ALABAMA MISSOURI

INDUSTRY KEYWORD: PACKAGING TECHNOLOGY OTHER RETAIL OTHER CONSTRUCTION & PROPERTY MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE SUPERMARKET CONSTRUCTION & PROPERTY REIT FOOD/BEVERAGE RETAIL CONVENIENCE STORE OTHER TRANSPORT SUPPLY CHAIN MANAGEMENT TRUCKING ONLINE RETAIL RAIL DISCOUNT/VARIETY DEPARTMENT STORES TRANSPORT AGRICULTURE NATURAL RESOURCES

SOURCE: Vertical Cold Storage

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PUB: 08/13/2024 10:30 AM/DISC: 08/13/2024 10:30 AM

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