GOTHENBURG, Sweden, June 24, 2025 /PRNewswire/ — Volvo Construction Equipment (Volvo CE) is making a significant strategic move, announcing an agreement to acquire Swecon’s business operations in Sweden, Germany, and the Baltics, including Entrack. The deal, pending regulatory approval, will see Volvo CE shell out 7 billion SEK for the acquisition. The transaction is anticipated to close in the second half of 2025.
The acquisition encompasses Swecon’s entire operational scope within these key markets. This includes everything from product and service sales, rental operations, and aftermarket support to customer service and support, as well as their existing offices and workshop facilities, along with the workforce of approximately 1,400 employees.
This bold move signals Volvo CE’s ambition to bolster its retail presence in several pivotal markets. These include Germany, Europe’s largest construction equipment market; Sweden, the company’s home base; and the Baltic states of Estonia, Latvia, and Lithuania. With this acquisition, Volvo CE will own and manage the majority of its business in Europe, solidifying retail as a core focus for the company within the continent.
Melker Jernberg, Head of Volvo CE, emphasized the significance of this step, stating, “In an industry undergoing significant transformation, where competitiveness is constantly being tested, direct collaboration with our customers is more important than ever to achieve success. Through the acquisition of Swecon, we believe we can drive enhanced customer satisfaction.”
Lantmännen, the current owner of Swecon, is a robust agricultural cooperative with diverse interests spanning agriculture, energy, food, and machinery. Swecon generated revenues of 10 billion SEK in 2024. Entrack, a Lantmännen-owned provider of aftermarket products, is included in the sale.
June 24, 2025
The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm.
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