Itella Logistics, one of the leading logistics providers in Northern Europe, has signed anagreement for the acquisition of Kauko Group, a Finnish international freight transport company.
Kauko Group, with about 110 employees, has branches in Finland, Estonia and Latvia and arepresentative office in Moscow. It posted net sales of approximately EUR 56 million in 2007.Itella Logistics’ net sales amount to EUR 530 million and it employs 3,600 staff.
“Kauko Group will complement Itella Logistics’s service range outstandingly through its solidexpertise in international road, air and sea freight, and will enable us to be even better equippedto implement global transport solutions,” said Vesa Vertanen, Senior Vice President, ItellaLogistics.
In connection with the acquisition, Kauko Group’s current Managing Director, Jarmo Halonen,has been appointed Country Manager of Itella Logistics Finland. “My aim is to integrate ourexpertise in international road, sea and air freight services with the service range of ItellaLogistics Finland, thus enhancing Itella Logistics’ prerequisites for becoming the leading servicelogistics operator in Northern Europe. Itella Logistics already operates in eight countries andglobally via its partner network,” Halonen said.
The sellers include Kaukohuolinta Invest Oy, part of the Juuranto Group company, Kauko Group’s operative management and Spedex Oy. Itella Logistics has also entered into an agreement concerningthe acquisition of Kauko Group´s Swedish affiliate company, Hansar Logistics AB, which willcontinue to operate as an independent company until further notice.
