OSLO, NORWAY: The Posten-owned company Frigoscandia AB (formerly Bring Frigo AB) in Sweden is sold to the Germany based investment company Mutares.
Posten Norge AS and Mutares signed an agreement yesterday regarding the sale of the shares in Frigoscandia AB to Mutares. The sale is subject to approval by the Swedish Competition Authority.
Frigoscandia AB was founded in 1948 and is the market leader in temperature-controlled logistics in Sweden and operates an international network in Sweden, Denmark, Finland, Norway, the Netherlands and France.
The company operates 25 warehouses and terminals in Sweden and Norway, across its three business segments domestic transport, international transport and warehousing. Frigoscandia AB has recently undergone a name change from the former Bring Frigo AB. The company is headquartered in Helsingborg.
The investment company Mutares envisages great opportunities for the Frigoscandia Group in the future. The acquisition is Mutares’ second Swedish investment in November.
The company is intended to strengthen the Goods & Services segment as a new platform investment with several add-on opportunities in the Nordic region and mainland Europe.
“A long and exciting journey has come to a successful end where we won over significant competition. The revenue size, the market, the operations and the mentality of the organisation is a perfect fit to Mutares’ DNA. We are pleased to confirm the purchase of Frigoscandia AB,” says Johannes Laumann, CIO of Mutares SE & Co. KGaA
Frigoscandia AB believes Mutares is well positioned to take the company further and improve and develop its business further in a competitive market.
“We believe Mutares will be a good owner that has good prerequisites to develop the business further, says Thomas Tscherning, Chairman of the Board of Frigoscandia AB and Executive Vice President of the Posten Group.
We look forward to continuing to develop Frigoscandia AB as a strong specialist company in food logistics, and together with Mutares implement our ambitious business plan in order to meet our customers’ needs. With newly developed services for a sustainable value chain, we aim to strengthen our position as the market leader in the Nordic region,” says Peter Haveneth, CEO of Frigoscandia AB.
Frigoscandia AB operates a network for temperature-controlled logistics in Sweden and internationally. It includes means of transport for temperature-controlled transportation, cold and freezing storage, as well as terminals adapted for the transport of goods in a temperature-controlled network. Frigoscandia AB has a turnover of approximately SEK 2.5 billion and has approximately 1,000 employees.