The Swedish-Danish postal group today completed the acquisition of Green Cargo Logistics, Sweden’ssecond-largest third-party logistics provider, and also the takeover of the Swedish newspaper
distribution business Svensk Morgondistribution KB.Through the acquisition, Green Cargo Logistics is now part of PostNord’s logistics businessfurther strengthening its position and making it one of the main players in the market ofthird-party logistics which is experiencing significant growth.
The takeover was initially announced in March this year with the Sweden’s CompetitionAuthority having approved the transaction in May.
“We welcome both employees and customers from Green Cargo Logistics to PostNord. Green CargoLogistics is a well-managed and profitable business that will constitute a solid foundation for ourcontinued development within third-party logisitics,” Henrik Höjsgaard, Head of PostNord’sLogistics unit, said.
The takeover is part of PostNord’s strategy of continuously growing its logistics business.In 2011, the Group generated net sales of approximately SEK 13 billion (€1.4 billion) for itslogistics operations within the Nordic region in 2011, with the focus on packages, pallets, andexpress delivery.
Green Cargo Logistics is Sweden’s second largest company within third-party logistics, with atotal storage space of 260,000 sqm in modern premises in Stockholm, Norrköping, Gothenburg,Helsingborg and Copenhagen. In 2011, Green Cargo Logistics recorded net sales of approximately SEK1 billion (€111 million) and an operating profit of SEK 61 million (€6.8 million).
Today PostNord also completed the takeover of the morning newspapers belonging to the Swedishmedia groups MittMedia and Västerbottens-Kuriren through its wholly-owned subsidiary Tidningstjänstwhich was initially announced in April this year.
The multi-year agreement is part of PostNord’s strategy to develop profitable new businessesto support its mail operations by 2015 as it establishes new applications for existing productionresources. Through growing within the area of morning newspaper distribution, PostNord can use thesame vehicles to distribute morning papers during night and for mail delivery during the day,resulting in major synergies.
Svensk Morgondistribution, so far jointly owned by MittMedia (75 per cent) andVästerbottens-Kuriren (25 per cent), delivers approximately 100 million morning newspapers with 740employees and generated net sales of approximately SEK 350 million (€39.6 million) in 2011.
