PostNord AB has signed an agreement with Eek Holding AS for the cash acquisition of Eek Transport AS. Eek Transport is one of Norway’s ten largest suppliers of transport and logistics solutions. The acquisition complements PostNord’s existing operations in Norway and strengthens the group’s position and opportunities in Norway’s growing logistics market.
Eek Transport AS had 2010 sales of approximately NOK 265m. Eek Transport runs nationwide operations in Norway with its own capacity and agency collaborations, and has approximately 200 employees. Its major customers are from the auto parts and HVAC industries. Eek Transport was named 2010 Transport Company of the Year by the Norwegian Hauliers’ Association.
PostNord is currently active in the Norwegian logistics market through its wholly-owned company Tollpost Globe AS. With sales of NOK 2.4 billion in 2010, 900 employees and 800 drivers, Tollpost Globe is Norway’s third-largest transport company. The acquisition of Eek Transport complements PostNord’s existing operations and customer portfolio in Norway. The acquisition also gives rise to potential synergies within sales, production and administration and strengthens the group’s logistics offer in the Nordic region as a whole.
- With the Nordic region as its home market, PostNord will be the leading communication and logistics operator in Northern Europe. An important component in achieving this goal is participating in collaborations and making acquisitions when we see the opportunity to strengthen our offer and our position. With the acquisition of Eek Transport, we are complementing our operations in Norway and strengthening our position and our opportunities in the country, says Lars Idermark, President and CEO of PostNord.
- Through Tollpost Globe, PostNord currently has a successful logistics business in Norway. With the acquisition of Eek Transport, we are enhancing our attractiveness as a supplier in the growing Norwegian logistics market and strengthening our Nordic network, says Henrik Höjsgaard, head of business area Logistics at PostNord.
The transaction is contingent on the approval of the Norwegian Competition Authority.