Itella Logistics and VR Group have today signed a business purchase agreement in relation to the purchase of VR Transpoint’s groupage logistics business in Finland and also the entire share capital of PT Logistiikka Oy as part of groupage logistic.
The net sales of the groupage logistics included in the acquisition is approximately 130 million euros, and the number of personnel is over 800. The personnel comprises mainly of transportation, terminal and warehouse personnel and they will be transferred to Itella as existing employees.
The aim is to actualize the acquisition on October 1st, 2012. The acquisition also requires approval by the competition authorities. The contract price will not be published by the parties to the trade.
The earlier press release on the letter of intent published on May 29th gives background information and comments of Jukka Alho, President and CEO of Itella and Mikael Aro, President and CEO of VR Group:
Itella and VR Group sign a letter of intent for a business acquisition
Jukka Alho, Itella, President and CEO, tel: +358 20 452 3366 (Itella MediaDesk)
Mikael Aro, VR Group, President and CEO, tel: +358 30 720 000
Itella Logistics, part of Itella Group, supports and develops the business of its customer companies by providing them with service logistics solutions for road, sea and air freight, warehousing and other contract logistics. Customers may outsource an individual element of their logistics process, or even their entire supply chain, to us. Itella Logistics has operations in eight countries (Finland, Sweden, Denmark, Norway, Latvia, Lithuania, Estonia and Russia). The company provides global services through its partners. The net sales of Itella Logistics was in 2011 MEUR 732 and it employed 7,100 persons.
VR Group is a versatile, environmentally friendly and responsible travel, logistics and infrastructure construction service company. VR Group provides employment for 11,500 professionals in Finland and ten European countries.