Transaction Announcement

Bellingham Cold Storage (BCS) Acquired by Joshua Green Corporation

Moss Adams (via its affiliate Moss Adams Capital LLC) acted as the exclusive financial advisor to Bellingham Cold Storage (BCS) in a sale of a majority stake to the Joshua Green Corporation, a privately-held family office founded in the 1890s. Joshua Green invests with strategic longevity into private companies, commercial real estate, and publicly traded equities. The Talbot family, which founded BCS, will remain shareholders.

Bellingham Cold Storage is the largest portside cold-storage facility on the West Cost and conducts international commerce. BCS provides essential components of the cold chain including customized storage, handling services, and logistics solutions. Operating 16 temperature-controlled warehouses, BCS services more than 100 active customers in the seafood and agribusiness industries, including fruit, vegetable, dairy, and perishable food, throughout the Pacific Northwest. The company has also become a recognized leader in food safety and inventory management. Through BCS’s proprietary inventory management system, the company provides logistics solutions that enable customers to efficiently and safely deliver food products to the end user. The company, since being founded by Archibald Talbot in 1946, handles more than 200 million pounds of food annually.

The combination of BCS with Joshua Green is expected to improve and expand the company’s service offerings. In addition, BCS’s strategic location between Vancouver BC and Seattle and access to international ports presents compelling opportunities for continued growth. The sale includes both BCS’s Squalicum Harbor and Orchard Place facilities that employ approximately 150 employees. All employees will remain in place with BCS’s senior management team continuing to lead its operations.

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For more information regarding this deal, please contact:

Harman ("Jet") Wales, Managing Director | (206) 302-6770
James Rothenberger, Director | (206) 302-6777
Daniel Seubert, Associate | (206) 302-6775