PostNord AS has today signed an agreement to acquire 100 percent of the shares in the transportation and logistics company Jetpak Borg AS. The acquisition complements PostNord's operations in Norway and strengthens the Group’s position on the Norwegian logistics market.
Jetpak Borg is a transportation and logistics company with a good reputation in Norway. The company offers tailored solutions for in night deliveries to car dealers, repair shops and related industries in Norway. This unique distribution system comprises long distance transportation from central warehouses in Scandinavia to more than 500 destinations in Norway each night. The company has a terminal in Sarpsborg and annual sales of approximately NOK 120 million.
“We will continue to carry out our strategy of creating end-to-end solutions and cross-border logistics capacity in the Nordic countries. The acquisition of Jetpak Borg is an important addition to our successful logistics operations in Norway,” says Håkan Ericsson, President and Group CEO of PostNord.
“Jetpak Borg is a well-managed and highly competent company. The acquisition further strengthens our position in the Norwegian logistics market,” says Robin Olsen, Head of PostNord Norway.
Until today's acquisition, Jetpak Borg was a subsidiary of Jetpak Norge AS, which is part of the Jetpak Group, which in turn is owned by venture capital firm Polaris.
By further developing and complementing existing logistics solutions in Norway, PostNord will create a better, more complete product portfolio.
“I am proud of the position we've taken with this company. With PostNord, we have a long-term strategic owner that will develop what we have built up. The acquisition strengthens Jetpak Borg's position in the market”, says Henrik Ringmer, President and CEO of Jetpak Group.
The acquisition is subject to approval by the Norwegian competition authorities.