Itella Logistics has signed an agreement on the acquisition of Kauko Group specialized in providing international transport services. This acquisition will reinforce Itella Logistics’ position as one of the leading service logistics providers in Northern Europe.
- Kauko Group will complement Itella Logistics’s service range outstandingly through its solid expertise in international road, air and sea freight, and will enable us to be even better equipped to implement global transport solutions, says Vesa Vertanen, Senior Vice President, Itella Logistics.
The sellers in this acquisition include Kaukohuolinta Invest Oy, part of the Juuranto Group company, Kauko Group’s operative management and Spedex Oy. - We are delighted that the buyer is Itella, a Finnish company which, as an international logistics operator, has good prospects for developing the company further, says Helena Juuranto-Perttunen, member of Kauko Groups' Board of Directors.
Kauko Group has approximately 110 employees and, in addition to its head office located in Tuusula, offices in Turku, Tampere, Lahti, Tallinn, Riga, and a representative office in Moscow. In 2007, Kauko Group posted net sales of approximately EUR 56 million.
In connection with the acquisition, Kauko Group’s current Managing Director, Jarmo Halonen, has been appointed Country Manager of Itella Logistics Finland.
- Kauko Group’s experienced and highly skilled staff was a major factor influencing this acquisition. The entire management of Kauko Group will join Itella Logistics Finland’s management after the competition authorities have approved the transaction, states Vertanen.
- My aim is to integrate our expertise in international road, sea and air freight services with the service range of Itella Logistics Finland, thus enhancing Itella Logistics’ prerequisites for becoming the leading service logistics operator in Northern Europe. Itella Logistics already operates in eight countries and globally via its partner network, states Jarmo Halonen.
In connection with the acquisition, Itella Logistics has also entered into an agreement concerning the acquisition of Kauko Group´s Swedish affiliate company , Hansar Logistics AB, which will continue to operate as an independent company until further notice.
Further information:
Vesa Vertanen, Senior Vice President, Itella Logistics, tel. +358 40 846 2753
Jarmo Halonen, Managing Director, Kauko Group, tel +358 40 900 6466
Corporate Communications contact information: Johanna Kotila, Communications Manager, Itella Logistics, tel. +358 50 436 4437.
Itella Logistics, an Itella Group company, is a leading service logistics provider in northern Europe, with a global presence through partners. Its services include transport services, forwarding, contract logistics and intelligent IT-based logistics solutions allowing direct integration with customers’ IT systems.
Itella Logistics net sales amounts to EUR 530 million and it employees 3600 staff in eight countries (Finland, Sweden, Denmark, Norway, Latvia, Lithuania, Estonia and Russia).
