This much is known: Bellingham Cold Storage, a pillar of the community since 1946, has been bought by Lineage, the world’s biggest cold storage warehouse business. But who is Lineage exactly? And what does this mean for Bellingham, BCS employees and Whatcom Business Alliance?
Who is Lineage?
Lineage began in late 2007/early 2008 with two guys who’d met working at Morgan Stanley, an investment banking company. Adam Forste and Kevin Marchetti wanted to create a company they could grow over a long period, with investment lifespans measured in decades rather than years, according to the Lineage website. They found it in an essential industry, cold storage, that had been overlooked by the financial world.
Cold storage was critically important and growing, if underappreciated. Forste and Marchetti saw an opportunity to use capital, automation and data science to buy and improve existing companies. Living in California then, the two founders bought their first cold storage company in Seattle in December 2008.
Lineage has made 79 acquisitions just since 2020, not including those made in 2025. To get a sense of the pace of acquisitions, Lineage announced the purchase of BCS on April 1, 2025, and 30 days later announced the purchase of four Tyson Foods cold storage warehouses in Pennsylvania, Kansas, Illinois and Arizona.
To get a sense of size, compare those two most recent purchases. Locals know BCS is big, employing 1,200 folks year-round and 1,750 seasonally (number includes customers/tenants). BCS’s three warehouses (now Lineage’s) total 24 million cubic feet. (BCS Burlington Frozen, a leased facility, was not included in the sale.) The four Tyson warehouses total 49 million cubic feet.
Overall, Lineage has 3.1 billion cubic feet of capacity in North America, Europe and Asia, more than any other cold storage company in the world. It operates more than 400 facilities in 20 countries, with nearly 20,000 employees.
In 2017, Lineage moved its offices from California to Michigan, and in mid-2024 completed the biggest initial public offering on the stock market so far that year. Lineage CEO Greg Lehmkuhl was quoted in the Detroit Free Press saying they upsized the IPO as much as the law allowed, saying it lowered debt and provided “more dry powder to continue to grow.”
The company literature drives home that point: “We believe we are only in the early innings of an opportunity to build the leading temperature-controlled logistics company globally.”
Closer to home, in 2019 Lineage bought Preferred Freezer Services in Lynden; the company also runs a distribution center in Ferndale.
Known & respected
Doug Thomas, former president and CEO of Bellingham Cold Storage, now senior adviser to Lineage, has known the Lineage founders since 2008.
“They are sharp and personable professionals,” Thomas said. “My partners and I were attracted by their overall offering. They have the financial horsepower to execute many of the capital projects that we have.
“With more investment, they are more likely to make improvements necessary to leverage our location as the first significant port south of Alaska and just 25 minutes from the Canadian border. Our marine terminal is strategically located within the Pacific Rim, where trade and movements of our seafood and agricultural products can be optimized if given the correct investments.”
The community & employees
In September 2024, BCS signed a 50-year lease extension with the Port of Bellingham. Will this sale affect that?
Not at all, Thomas said. The port consented to the change of ownership on April 1.
“Lineage will adhere to all terms of the 50-year lease extension,” Thomas said, “and the port will extend all provisions to Lineage accordingly.”
As senior adviser, Thomas has a four-year employment agreement with Lineage. His immediate focus is on a smooth transition for employees and customers.
“I will be introducing the new leadership to community members, customers and vendors over the next several months; however, the BCS leadership team that will remain are a capable group and will provide a continuum of support going forward.
“It is my understanding that most employees will be retained. There are a small number of functions in the administrative office that may be relocated to their headquarters; however, they are working with me to find jobs for as many as possible.
“One of my biggest roles is to advocate for my incredible people. Lineage is growing and needs good people. I’m seeing where (current BCS employees) can fit into productive roles here or potentially at other Lineage locations.”
Lineage is positioned to make investments that could benefit employees via job advancement and security, customers via expanded services, and the community via increased commerce and tax-base potential, Thomas said.
“I will be available to help Lineage continue our long history of success with customers, employees and the community here in Whatcom County,” Thomas said. “I will do whatever I can to help Lineage succeed locally, throughout North America and internationally. Lineage is interested in the best-practice approaches that BCS brought to our customers and employees. I am advocating for their adoption here and across their entire enterprise.”
Charities & WBA
Locals know BCS’ support of Whatcom Business Alliance is exceptional, as is its support of local charities. Will Lineage continue that?
“I am advocating for their continued participation and support,” Thomas said. “This is a priority for me. We will be bringing some of their leadership team to a few (WBA) events this year; they will see the value. I’m having success so far in having Lineage buy in to continuing community investments.”
A new chapter
BCS has been a fixture on the waterfront for nearly 80 years, ever since founder Arch Talbot built a warehouse and icehouse for local fishers and farmers in 1946. Since then, it’s grown to feed the world while continuing to serve locals.
May Lineage continue its proud tradition. ■
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