DACHSER is acquiring Frigoscandia AB from Mutares SE & Co.KGaA, a private equity investor, to further strengthen the geographic coverage of the European Food Network. The transaction is expected to be completed in the first quarter of 2024.
Frigoscandia’s workforce of 1,300 employees is primarily located in its core market, Sweden, as well as in Denmark, Norway, Finland, and the Netherlands, and will generate revenue of EUR 300 million in 2023. Founded in 1948, the company is now the leading full-service provider in both temperature-controlled and frozen food logistics in the Nordic region. It can provide outlet deliveries with a close-knit and high-performance network via three business segments:
– Domestic transport Sweden comprises a nationwide transportation network with a fleet of around 500 vehicles, 260 of them its own.
– International transport covers 51 markets globally through road and air & sea transports.
– Warehousing comprises 12 warehouses in Sweden and 3 warehouses in Norway.
“We are very proud to acquire Frigoscandia and take our long-standing strategic partnership to the next level. In doing so, we are not only broadening our own DACHSER Food Logistics to the Nordic markets, but also reinforcing our position as one of the leading European providers in food logistics,”- Burkhard Eling, CEO of DACHSER.
The acquisition of Frigoscandia has no impact on the European Food Network in Denmark, which will continue to be covered by the proven services of the Danish logistics provider H.P. Therkelsen. The setting for the Netherlands in the European Food Network with Müller Fresh Foods Logistics also remains unchanged. The acquisition of Frigoscandia by DACHSER delivers a highly complementary setup for both organizations, as DACHSER’s Food Logistics business line currently has no presence of its own in Sweden, Norway, or Finland. Consequently, the transaction will not result in any duplicate structures, and all employees of Frigoscandia AB will be transferred to DACHSER upon completion of the acquisition.
