DACHSER is set to acquire Frigoscandia AB from Mutares SE & Co.KGaA, a private equity investor, to bolster the coverage of the European Food Network across Europe. The transaction is slated for completion in the first quarter of 2024.
Frigoscandia AB, with a workforce of 1,300 employees mainly based in Sweden, Denmark, Norway, Finland, and the Netherlands, is expected to generate €300 m in revenue in 2023. Founded in 1948, the company has established itself as a leading provider in temperature-controlled and frozen food logistics in the Nordic region. Its operations span three core segments- Domestic transport in Sweden boasts a wide-reaching transportation network with approximately 500 vehicles, 260 of which are owned by the company. International transport covers 51 global markets through road and air & sea transportation. Warehousing includes 12 warehouses in Sweden and 3 in Norway.
The company’s partnership with the European Food Network in 2019 underscores its leadership in food logistics in Northern European markets, showcasing a strong cultural alignment with DACHSER.
Burkhard Eling, CEO of DACHSER, expresses pride in advancing the strategic partnership with Frigoscandia, highlighting the expansion of DACHSER Food Logistics into Nordic markets and solidifying their position as a top European food logistics provider. Eling emphasizes sustainable organic growth and recent targeted acquisitions in key markets like Benelux, Oceania, South Africa, Italy, and the Nordics.
Post-acquisition, Frigoscandia will integrate fully into DACHSER’s Food Logistics Network, reporting to Alexander Tonn, COO Road Logistics and Managing Director of DACHSER Food Logistics, starting January 1, 2024. Tonn views this acquisition as pivotal for growth, particularly in the Nordics, promising improved distribution capacity and quality for European customers.
Frigoscandia’s CEO, Peter Haveneth, will continue leading the company alongside the existing management team. Haveneth sees the transition as a natural step aligned with their business plan to fortify the network. He anticipates operational growth and maintaining high standards in reliability and quality for clients within the DACHSER family.
The acquisition won’t impact the European Food Network in Denmark, covered by logistics provider H.P. Therkelsen, nor will it change the setup in the Netherlands with Müller Fresh Foods Logistics. This acquisition presents a complementary fit, allowing DACHSER to establish its presence in Sweden, Norway, and Finland without redundancy. All Frigoscandia AB employees will transition to DACHSER upon completion of the acquisition.
Source: DACHSER
