Jetpak acquires Swedish courier Budakuten
Jetpak Top Holding AB (publ), through its subsidiary Jetpak Malmö AB, has acquired Swedish courier company Budakuten in Malmö AB, effective on 3 May 2023.
The initial acquisition amount amounts to SEK 10 million on a debt-free basis. In addition, an additional purchase price of a maximum of SEK 15 million may be paid. The additional purchase price is dependent on achieved EBITDA results for the financial years 2023 – 2025. This acquisition is paid in cash.
Budakuten is based in Malmö and the business is based on local couriers, in combination with loops in Skåne and to Copenhagen, but also with longer direct transports within the Nordic region and further south.
The company had an annual turnover in 2022 amounting to SEK 25.6 million with an operating profit amounting to SEK 3.8 million.
“The acquisition of Budakuten represents another step to ensure Jetpak’s future growth and strategic position in Sweden and in the Nordics. Budakuten has positioned itself as a strong player in express logistics in Southern Sweden, and I am happy to welcome Budakuten into the Jetpak family,” says Jetpak CEO Kenneth Marx.
“After just over 30 years of developing Budakuten into what it is today, I am now really looking forward to being able to contribute within Jetpak’s organization to further strengthen Jetpak’s market position in southern Sweden”, says Budakuten’s CEO Stefan Semanjiv.
Jetpak offer solutions for both spontaneous transport needs and customized logistics. The company is represented in more than 170 locations in the Nordics and in Europe. Jetpak has a unique and flexible customer offering based on the availability of normally approximately 4,000 departures daily and an extensive distribution network with approximately 950 courier vehicles.