TCT buys food warehouses from Livingston Logistics
CALGARY — TCT Logistics announced that it has acquired seven warehouse and distribution centres designed primarily for food products from Livingston Logistics, the Canadian logistics division of Livingston Group.
The deal represents more than one million square feet of warehouse and distribution space and potentially $21 million a year in revenues, said TCT president and CEO Ken Lucas. Four buildings are located in Calgary, where TCT is based. Others are in Edmonton, Toronto, and Langley, B.C.
The assets will be managed by Gord Crowther, a former vice-president at Livingston who has been appointed vice-president, warehousing and logistics, by TCT.
Financial terms of the transaction were not disclosed. TCT plans to fund the cash purchase with proceeds from the sale of real estate assets that are currently being marketed.
TCT Logistics, a Calgary-based line-haul transportation, refrigerated storage, and local distribution company, bolstered its transportation operation with the purchase of Atomic Transportation System of Winnipeg in March. Livingston is based in Etobicoke, Ont.
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