On June 1, 2016, Posti and Veine Oy signed an agreement which will transfer the entire capital stock of Veine Oy, a logistics company specializing in temperature-regulated logistics, to Posti Ltd. Veine is a Finnish logistics company that offers transport, terminal, delivery and warehousing services. Its annual net sales are approximately EUR 54 million and it employs 130 people. Veine is among the leading logistics operators in Finland.
Posti is the largest logistics company in Finland. Posti's strategy is to grow in food logistics.
Posti's current food logistics services include meal deliveries in about 100 municipalities, delivery of food purchased at online stores, beverage logistics for brewing industry operators, B2B supply chain solutions for dried food and transport of bakery products.
- This acquisition is in line with Posti's strategy of expanding its logistics services with food logistics. With this cooperation, Posti and Veine can offer competitive food logistics solutions with national coverage, says Jukka Rosenberg, SVP, Parcel and Logistics Services at Posti.
According to Mr. Rosenberg, the acquisition will open up new business opportunities for the customers of both Posti and Veine. Posti's extensive transport and terminal network and expertise in logistics enable customers in the food logistics sector to grow their business through efficient logistics solutions.
- This transaction is an excellent opportunity for Veine. It will not affect our personnel or the content of our services, but after its completion we will be able to serve our customers in all parts of the country. Thanks to our cooperation with Posti, we can now focus on developing our food logistics services and improving our competitiveness, for example with regard to line haulage and local terminal functions. Posti is a Finnish logistics expert that understands the needs of our customers and wants to cooperate with Veine to solve the changes in commercial logistics, says Tuomo Rannila, Managing Director of Veine Oy.
According to Mr. Rosenberg, the trade sector is facing immense structural changes, and companies can gain competitive advantage through new kinds of logistics services and partnerships. Posti's aim is to offer comprehensive food logistics services to the Finnish food sector at large.
- Our extensive logistics experience guarantees the quality, reliability, transparency and competitiveness of our services, Mr. Rosenberg says.
The plan is to complete the transaction in August 2016. Before the transaction can be completed, it must be approved by the Finnish Competition and Consumer Authority. The parties have agreed not to disclose the transaction price. The transaction will not affect existing employment relationships.
Veine Oy in a nutshell
Posti Group is your first choice for postal, logistics and e-commerce services. We manage the flow of commerce and everyday life in nine countries. Our net sales in 2015 amounted to EUR 1.65 billion. We employ approximately 22,000 professionals who serve our customers in Finland under the name Posti and in other countries under the name Itella. All of our services in Finland are carbon neutral. www.posti.com.