Volvo CE Gains EU Approval to Acquire Swecon

Eskilstuna, Sweden - Volvo Construction Equipment (Volvo CE)., a construction equipment manufacturer, has secured approval from the European Commission to acquire Swecon., clearing the final regulatory hurdle for the transaction.

The deal allows Volvo CE to purchase Swecon’s operations in Sweden, Germany, and the Baltic states from Lantmännen for SEK 7 billion ($762 million), including its Entrack subsidiary. The acquisition encompasses Swecon’s full range of activities, from the sale and rental of construction equipment to aftermarket support, customer service, office and workshop facilities, and the transfer of approximately 1,400 employees.

Swecon has been an authorised Volvo CE retail partner across Sweden, Estonia, Latvia, Lithuania, and most parts of Germany. Under Lantmännen ownership for 25 years, Swecon reported net sales of SEK 10 billion in 2024.

With European Commission approval now in place, both companies expect to finalise the transaction in the first quarter of 2026. Upon completion, Volvo CE will directly own and manage a majority of its European retail operations, strengthening its presence in Germany, Sweden, and the Baltic region.

Mr. Melker Jernberg, CEO of Volvo CE, said, “At a time when our industry is undergoing significant transformation and competitiveness is being tested, collaborating directly with our customers is crucial. Through the acquisition of Swecon, we aim to enhance customer satisfaction and deliver even greater value to our clients.”

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