Cloverleaf Cold Storage Plans to Expand its Sioux City Warehouse
Global: Food processing and storage company
Cloverleaf Cold Storage is planning USD18 million expansion of its warehouse in
Sioux City, Bridgeport Industrial Complex. The expected expansion of the cold
storage facility would increase its warehouse space by 50 percent, or 140,000
square feet, allowing it to store more than 750 truckloads of refrigerated food
products. Moreover, the company is also planning to add 8 new employees in that
facility.
The
proposed expansion is required to store the increasing output from Cloverleaf’s
local Farmers Produce plant, which has seen continuous growth since 1988.
Farmers Produce is a subsidiary of Cloverleaf, which provides custom short-run
food processing services to the protein production industry. Cloverleaf Cold Storage
is amongst the world’s largest cold storage warehouse company The Company, founded
in 1952, and currently operates both ambient and refrigerated food-grade
warehouses in 16 locations in the central and eastern United States.
According to TechSci Research, the proposed expansion of the company’s
warehousing facility is mainly due to increasing demand from the local
production. This expansion will ultimately benefit the company’s production
capacity in the country, where it has a strong market presence.
According to recent report published by TechSci Research, “Global
Cold Chain Market Forecast & Opportunities, 2020”, the global cold chain market is expected to grow at a CAGR of over 11%
during 2015-20. Currently, global cold chain market is fragmented, with a large
number of players operating in the market. However, a number of mergers and
acquisitions have been witnessed over the past decade. This trend is expected
to continue over the forecast period, owing to which the market is moving
towards consolidation in coming years. In terms of revenue contribution, North
America captured the largest market share in 2014, and is expected to retain
its dominance in global cold chain market over the next five years. Major
players operating in the market include AmeriCold Logistics, Lineage Logistics,
APL Logistics, Swire Group, Oxford Cold Storage, VersaCold, and Burris
Logistics, among others.