The acquisition of Swecon includes the entire scope of its business including sales, rental operations, and aftermarket services.
Volvo Construction Equipment (Volvo CE) has reached an agreement with Lantmännen to acquire Swecon, including its operations in Sweden, Germany, and the Baltics, as well as the subsidiary Entrack. The acquisition encompasses Swecon’s full business scope across these markets, including product and service sales, rental activities, aftermarket support, and customer assistance, along with associated office and workshop facilities and a workforce of 1,400 employees.
This move represents a strategic step for Volvo CE to expand its retail presence in key European markets. Germany, the largest construction equipment market in Europe, and Sweden, Volvo CE’s home base, are central to this strategy, along with Estonia, Latvia, and Lithuania. Once completed, the deal will result in Volvo CE owning and managing the majority of its European business, reinforcing retail as a core element of its strategy in the region.
“At this time of transformation in our industry, where our competitiveness is being tested, direct collaboration with customers is more crucial than ever. Through the acquisition of Swecon, we believe we can enhance customer satisfaction,” said Melker Jernberg, Head of Volvo CE.
Carl Slotte, Head of Sales Europe at Volvo CE, added, “Owning and managing most of our retail operations in Europe gives us a competitive edge to better meet evolving customer demands, explore new business models, and benefit from Swecon’s deep expertise.”
Magnus Kagevik, Group President and CEO of Lantmännen, commented, “Over the past 25 years, Swecon has grown into a profitable and valuable part of Lantmännen’s business. Volvo CE’s desire to get closer to the customer highlights the strength of what we’ve built, and the business is well-positioned for continued growth under Volvo CE’s ownership.”
The transaction is subject to regulatory approval and is expected to close in the second half of 2025.
For more information, visit: volvoce.com
