Kenyon Zero Storage Sale

Situation

Kenyon Zero Storage, Inc. (“Kenyon”) is a large cold storage operator of 12 cold storage facilities serving agricultural and primary food processing customers located in the southern Columbia Basin, the primary agricultural production region for Washington state.

 

Kenyon had been approached by a large national competitor with nearby locations on an unsolicited basis and after some preliminary discussions realized that both the owners and management needed assistance in evaluating their options and potentially pursuing a sale of their long-held business.

 

ZS Role

After talking to their advisors and other industry participants, Zachary Scott was engaged as the exclusive financial advisor to represent the owners of the Company in evaluating both the prior strategic discussions and to represent the Company in the sale process.

 

Results

Zachary Scott organized a competitive process among suitable strategic buyers, obtaining bids that exceeded the amounts discussed earlier. Ultimately Kenyon was acquired by Lineage Logistics, the nation’s largest provider of cold storage services, in doing so strengthening their facility network and supply-chain offering for its customers in the greater Pacific Northwest.

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