Lineage, the world’s largest global temperature-controlled warehouse REIT, began trading as a Nasdaq-listed company under the ticker LINE.
Since its founding nearly 16 years ago, Lineage has been transforming the global food supply chain to eliminate waste and help feed the world. Partnering with some of the world’s largest food giants, Lineage provides perishable food producers, distributors, retailers, and foodservice providers with access to food-grade storage facilities and supply chain services critical for maintaining food safety and promoting sustainability from farm to table.
Alongside the IPO, the Lineage Foundation for Good, the independent philanthropic arm of Lineage, announced an $8.8 million pledge in food donations and cash grants to community partners. This commitment began with a meal kit packing event in Times Square and a $100,000 donation to the New York Common Pantry.
“Every day, Lineage team members play an essential role in helping safeguard our customers’ products on their journey from farm to forks in communities around the globe. In honor of our IPO, I can’t think of a better way to celebrate this achievement than by spending some time giving back to the people of New York,” said Greg Lehmkuhl, president and CEO of Lineage. “Food is essential for everyone, everywhere. As we move forward as a public company, Lineage will continue to show up in the fight to end food insecurity as we strive to transform the food supply chain to eliminate waste and help feed the world.”
The company announced a $100 million investment in its workforce: Named “Starting LINE Awards” in honor of the Company’s new ticker symbol, these awards will reach the vast majority of Lineage’s more than 16,000 US team members.
“From the very beginning, we have sought to foster an ownership mindset at Lineage and have celebrated our wins together,” said Adam Forste, founder and co-executive chairman. “Lineage’s success has been made possible because of the enormous contributions of our team members, and our Starting LINE Awards were designed to recognize and thank them for helping us build this company and take it public.”
The company announced its intention to launch a program of ongoing equity-based awards to further incentivize and nurture an ownership mentality for Lineage team members. Under the program, called Lineage Legacies, the Company expects to grant eligible team members restricted stock units that will vest over time on an ongoing basis. Lineage Legacies is expected to launch next year.
About Lineage
Lineage, Inc. is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.
