4.4 • 3K Ratings
🗓️ 29 July 2024
⏱️ 32 minutes
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0:00.0 | We're checking in on the business of food and how it gets to you. |
0:08.0 | Motley Full analyst Osset Sharma. I'm Dylan Lewis and I'm joined over the airwaves by Motley Fool analyst |
0:23.8 | Ossit Sharma. Osset, thanks for joining me today. Hey Dylan good to be here. |
0:28.3 | We've got a rundown on the biggest IPO of 2024 and fresh results from McDonald's. |
0:35.0 | We'll start with the big debut. |
0:37.0 | Osset, 2024's largest public offering dropped last week, |
0:40.0 | but I'm guessing a lot of investors missed it kind of an under the radar |
0:44.1 | company cold storage and logistics operator lineage they raised 4.5 billion on its way |
0:51.0 | to a 20 billion dollar. I think we're going to have to dig into |
0:55.5 | this one a little bit for listeners. What exactly does lineage do? |
0:59.8 | So Dylan, lineage owns temperature controlled warehouses and it centers on the refrigerated food industry, |
1:07.3 | the logistics of getting food from basically a cold point to your refrigerator or your freezer. |
1:14.4 | It also serves the pharmaceutical industry, |
1:16.8 | and this is a roll-up. |
1:19.1 | For those of you who are familiar with that term, |
1:21.0 | it's basically grown by acquisition. |
1:23.2 | Started by two interesting youngish founders, Adam Forstay and Kevin Marchetti. |
1:29.6 | And really their idea was to go into an industry which hadn't seen a lot of efficiency and modernize the logistics of moving food. |
1:39.0 | It's so interesting to me because we've been dealing with this problem for centuries. Cato the elder |
1:47.5 | Dylan had a treatise on agricultural methods to preserve food. Rome was on the ancient silk route and you can track these ancient writings about keeping food cold using snow from mountains, etc. |
2:02.0 | We come to today things haven't changed that much. This is still an |
2:05.6 | industry which is going to be around for a long time. The question is can you make money |
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