Cloverleaf Cold Storage to Merge with Zero Mountain

by Lance Turner  on Tuesday, Jan. 8, 2019 10:01 am   2 min read

Cloverleaf Cold Storage of Sioux City, Iowa, said Monday that it would merge with Zero Mountain Inc. of Fort Smith.

Cloverleaf said the combined cold storage warehousing company will have about 140 million cubic feet of capacity in nine states and a presence in "all three major protein production corridors." The deal would make the new company the fifth largest cold storage warehouse in the U.S., according to a news release.

Terms of the deal were not disclosed.

"The Cloverleaf team has long admired Zero Mountain, which has been built over generations by the Rumsey family upon business values similar to our own," Bill Feiges, Co-CEO of Cloverleaf, said in a news release. "Zero Mountain is highly respected in the cold storage industry, and the Rumsey family is known for its longstanding relationships and dedication to customer service. Its geographic footprint is a strong complement to that of Cloverleaf, and we believe that this combination will create significant value for our customers."

Founded in 1952, Cloverleaf is the 7th largest public refrigerated warehouse company in North America, according to the International Association of Refrigerated Warehouses. It has operations in eight states across the Midwest and Southeast. Last year, it received a strategic investment by private equity funds affiliated with publicly traded Blackstone.

Zero Mountain was founded in 1955 by the Rumsey family. The business ships more than 2.5 billion pounds of food per year and manages more than 38 million cubic feet of total capacity in five cold storage warehouses. It has expansions underway in Arkansas and Texas.

"I am excited that we are able to come together with Cloverleaf to create one of North America's largest players in the cold storage business," Zero Mountain Chairman Mark Rumsey said. "The Cloverleaf team is very well respected in the cold storage industry, and I'm delighted that we have this opportunity to partner with and grow alongside them."

Cloverleaf said Mark Rumsey and Zero Mountain CEO Joe Rumsey will retain leadership roles in the combined business.

 

 

Please read our comments policy before commenting.