Scandinavian postal operator PostNord is buying another logistics company to strengthen its presence in the Norwegian market.
The parent company of Sweden’s Posten AB and Denmark’s Post Danmark said today it has agreed to purchase 100% of the shares in Harlem Transport AS.
The transport and logistics company specialises in four main areas – consumer goods, industry, shipping and waste management, employing 211.
With several major customers in the consumer goods industry, Harlem achieved sales of NOK 292m ($51.2m USD) in 2011.
The acquisition is subject to the approval of Norway’s competition authorities, PostNord said today.
Lars Idermark, President and CEO of PostNord, said: “We are continuing to implement our strategy by creating end-to-end solutions and cross-border logistics capacity in the Nordic region. The acquisition of Harlem Transport is an important addition to our successful logistics operations in Norway.”
PostNord is in the process of restructuring to streamline its mail operations and build up its logistics operations to push for the best growth opportunities.
Last month the company said its latest financial results showed its mail division revenues declining 5% year-on-year, while revenues in its logistics operations increased by 9% compared to the same period last year.
PostNord’s logistics division operates parcel, pallet, express delivery and third-party logistics services in Sweden, Denmark, Norway and Finland, with sales of about SEK 13bn ($1.97bn USD) a year.
In Norway, the company’s logistics division operates through the Tollpost Globe AS subsidiary, which PostNord describes as one of Norway’s three largest logistics companies with NOK 2.7bn ($474m USD) sales in 2011.
PostNord completed the takeover of Sweden’s largest third party logistics firm back in May, and in the past 18 months has also acquired Norway’s Eek Transport and Sweden’s NH Logistics.
Henrik Höjsgaard, head of PostNord’s logistics business division, said: “Harlem Transport is a well-managed and skillful company. The acquisition further strengthens our position in the growing Norwegian logistics market, particularly in the fast moving consumer goods area.”