Volvo Construction Equipment's (Volvo CE) previously announced acquisition of Swecon from Lantmännen has now been finalized, according to a press release. The deal was first presented in June 2025.
Volvo CE has acquired Swecon's business operations in Sweden, Germany, and the Baltics, including Entrack. The transaction is valued at a total enterprise value of 7 billion kronor. For the full year 2024, Swecon's revenue amounted to 10 billion kronor.
"Volvo CE views this as a strategic step to further invest in and strengthen its dealership operations and service sales in several key markets, thereby making this business a core operation for Volvo CE in Europe," the company stated.
In the first quarter of 2026, Volvo CE's margin will be diluted due to a higher cost base in inventory, as the acquired inventory from Swecon includes the margin Volvo CE earned when it sold the machines to Swecon prior to the acquisition. The effect is estimated at 300 million kronor and is described as temporary.
Following the transaction, Lantmännen will carry out an extra dividend of 750 million kronor on February 12.
AB Volvo is the leading European truck maker and No. 3 worldwide. Net sales break down by activity as follows:
- sales of trucks (68.4%): 219,377 vehicles sold in 2024 (names Volvo, Renault, Eicher and Mack);
- sales of construction equipment (16.8%): excavators, loaders, backhoes, hydraulic shovels, graders, dump trucks, etc.;
- financial services (5.1%);
- bus and chassis sales (4.7%): world's No. 2 largest manufacturer;
- sales of parts, control systems, and marine and industrial motors (3.8%): for commerce and cruise ships and for industrial applications (irrigation units, lifting trucks, electrical generators, etc.);
- other (1.2%).
Net sales are distributed geographically as follows: Europe (41.1%), North America (30.8%), Asia (11.2%), South America (10.7%), Africa and Oceania (6.2%).
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