Posti Group, which operates under the brand Itella Logistics, has announced the sale of its Scandinavian road freight business operations to Danish Nordic Transport Group (NTG), a Scandinavian-based logistics service provider. The transaction also includes international road, air, and sea freight operations in Finland.
The transaction does not include Posti’s operations in Finland, the Baltic countries and Russia. Posti will continue to provide logistics services in Finland in parcel services, company transport services, and supply chain solutions. In Sweden, Posti will continue in parcel operations focused on e-commerce, as well as the existing storage services in Norway. In the future, Posti plans to provide international freight services to its customers through a partnership network.
“This transaction is a continuation of the measures for improving logistics profitability and focusing to homeland area. Already last year we restructured our operations in Scandinavia. With this transaction, NTG becomes a significant partner for Posti. By cooperating with NTG and other international players, we can offer our customers high-quality services in the field of international freight, too,” said Jukka Rosenberg, Senior Vice President, Posti’s Parcel and Logistics Services.
The plan was to realize the transaction by the end of Q2 2015. The parties have agreed not to disclose the transaction price.
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