Lineage Logistics, a US-based real estate investment trust that focuses on temperature-controlled industrial assets, is expanding into Vietnam through a joint venture with Hanoi-based cold-storage warehouse operator SK Logistic.
Financial terms of the transaction were not disclosed.
Brooke Miller, president for Asia-Pacific at Lineage, said expanding Lineage’s footprint in Asia-Pacific was a long-term strategic goal for the company. “Vietnam is an important market for Lineage,” she said.
The US company now owns assets and can provide supply-chain services in Hanoi and Ho Chi Minh City, serving the north and south of Vietnam. SK Logistics’ two cold storage warehouses have close to 400,000sqft of capacity.
“These facilities serve a wide range of customers, including supermarket chains that provide food for families across the region,” said Miller.
“We are excited to keep growing these valuable relationships together with SK Logistics as we continue in our mission to feed the world.”