Volvo CE to Invest SEK 7 Billion in Swecon Deal That Expands Retail and Service Network Across Northern Europe

Volvo CE to Invest SEK 7 Billion in Swecon Deal That Expands Retail and Service Network Across Northern Europe

(IN BRIEF) Volvo CE has agreed to purchase Swecon’s dealerships and service operations in Sweden, Germany and the Baltic states—including the Entrack aftermarket division—for SEK 7 billion, subject to regulatory clearance, with completion slated for H2 2025. The deal transfers 1,400 employees, sales, rental and workshop assets from Lantmännen to Volvo CE, reinforcing Volvo’s direct retail presence in key European markets. Leadership at Volvo CE sees the acquisition as a way to deepen customer relationships, improve service quality and streamline aftermarket support, leveraging Swecon’s SEK 10 billion 2024 revenue base.

(PRESS RELEASE) GOTHENBURG, 24-Jun-2025 — /EuropaWire/ — Volvo Construction Equipment (Volvo CE) has reached an agreement to acquire Swecon’s operations in Sweden, Germany, Estonia, Latvia and Lithuania—including the Entrack aftermarket division—from agricultural cooperative Lantmännen for SEK 7 billion, pending regulatory approval. The transaction, expected to close in the second half of 2025, will bring Swecon’s full suite of retail activities under Volvo CE’s ownership, encompassing product and service sales, rental fleets, aftermarket support, workshop facilities and approximately 1,400 employees.

By integrating Swecon’s established network in Europe’s two largest construction markets—Germany and Sweden—alongside the Baltic states, Volvo CE aims to solidify its retail footprint and deepen customer engagement across its core regions. “As our industry undergoes profound transformation, direct collaboration with our customers is key to maintaining competitiveness,” said Melker Jernberg, Head of Volvo CE. “Bringing Swecon into the Volvo CE family will enhance service quality and drive higher customer satisfaction.”

In 2024, Swecon generated revenues of SEK 10 billion. Entrack, Lantmännen’s wholly owned aftermarket business, will also join Volvo CE’s portfolio, further strengthening parts distribution and service capability. This strategic acquisition positions Volvo CE to manage the majority of its European retail operations in-house, aligning with its ambition to make direct retail a central pillar of its growth strategy.

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The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm.

Media Contact:

Claes Eliasson
Head of Media Relations
+46 76 553 7229
press@volvo.com

SOURCE: AB Volvo