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Posti purchases Swedish firm Aditro Logistics
Published : 24 Feb 2020, 21:05
Updated : 24 Feb 2020, 21:46
National postal and logistic services operator Posti Group has signed an agreement with Valedo Partners and other shareholders of Aditro Logistics to acquire the entire share capital of Aditro Logistics AB, a Swedish logistics company, reported news agency Xinhua quoting Posti.
Posti said in a press release that the acquisition of Aditro Logistics increases the growth of its logistics services, and strengthens its presence in Sweden and Norway.
"Posti is growing in line with its strategy, and through this acquisition we are strengthening our presence in the Nordics and the Baltic Sea region," said Turkka Kuusisto, President and CEO of Posti, in the press release, adding that with the acquisition, the company is becoming one of the major players in the Swedish and Norwegian markets.
"This transaction is great for us and for our customers," indicated Johannes Gussander, CEO of Aditro Logistics.
After the closing of the transaction, Aditro Logistics will be operated as an independent business group under Posti, and it will still be led by Johannes Gussander, the current CEO, said Posti.
However, the company did not disclose the price of the acquisition.
Founded in 1973 in Sweden, Aditro Logistics offers a broad portfolio of logistics services such as warehousing, staffing and transportation services. In 2019, Aditro Logistics' net sales were about 100 million euros.
The transaction is subject to approval by the Swedish competition authorities, and is expected to close in the second quarter of 2020.