DGAP-News: Mutares SE & Co. KGaA / Key word(s): Miscellaneous
Thirteenth acquisition in 2021: Mutares acquires Frigoscandia from Posten Norge
- Leading Temperature Controlled Food Logistics Business in Nordics
- Strengthening the Goods & Services segment
- Revenues close to EUR 300 million expected in 2022
Munich, 19 November 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Frigoscandia from Posten Norge. The company will strengthen the Goods & Services segment as a new platform investment with multiple add-on opportunities in the Nordics and Mainland Europe. The transaction is expected to close latest in Q1 2022.
Founded in 1948, Frigoscandia is a leading Nordic player within fresh, chilled and frozen food logistics solutions. Customer's products are handled at temperatures from -25 to +25 degrees Celsius and traceable in real-time. The company operates out of 25 warehouses and terminals in Sweden and Norway, across its three segments Domestic Transport, International Transport and Warehousing.
Frigoscandia has recently undergone a re-branding back to its well-known roots, whereas it operated under the name Bring Frigo during the majority of Posten Norge's ownership. The company is headquartered in Helsingborg and mainly offers its services across Europe, with a particular focus on the Nordics. Frigoscandia plans to generate around EUR 300 million revenue and employs more than 1,000 people.
As this acquisition represents the second Swedish platform investment in November 2021, Mutares continues to establish its foothold and presence in the Nordics and starts to mark its footprint in the Nordic Turnaround Market. Johannes Laumann, CIO of Mutares SE & Co. KGaA comments: "A long and exciting journey has come to a successful end where we won over significant competition. The revenue size, the market, the operations and the mentality of the organisation is a perfect fit to Mutares' DNA and I can't be happier to confirm the purchase of the Frigoscandia Business."
The transaction is conditional upon customary anti-trust approval.
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19.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Mutares SE & Co. KGaA
+49 (0)89-9292 776-0
+49 (0)89-9292 776-22
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