PostNord completes takeover of Sweden’s second largest 3PL firm

PostNord has completed its acquisition of Green Cargo Logistics AB, one of Sweden’s largest third party logistics providers. A little over two months after signing an agreement with Swedish state-owned rail transport company Green Cargo, the parent company of Sweden’s Posten and Denmark’s Post Danmark said today it was now one of the “main Nordic players” within the third party logistics market.

The deal was approved by competition authorities in Sweden earlier this month, and effective today Green Cargo Logistics is now part of PostNord’s Logistics division.

PostNord said prior to the acquisition, Green Cargo Logistics was the second largest third party logistics company in Sweden, achieving a net sales of SEK 1bn and operating profit of SEK 61m in 2011.

The Nordic postal company said its own Logistics division had sales in the whole Nordic region of SEK 13bn in 2011, although this included packages, pallets and express delivery as well as third party logistics activities.

The firm said its latest acquisition strengthens its business in a third party logistics market that is experiencing “significant” growth.

Buying Green Cargo Logistics gives PostNord additional storage space totaling 260,000 square metres with sites in Stockholm, Norrkoping, Gothenburg, Helsingborg and Copenhagen.

Henrik Höjsgaard, head of PostNord’s Logistics division, said: “We welcome both employees and customers from Green Cargo Logistics to PostNord.

“Green Cargo Logistics is a well-managed and profitable business that will constitute a solid foundation for our continued development within third party logistics.”