AURELIUS acquires Bring Frigo from Posten Norge
- Acquisition of a specialist for temperature-controlled logistics in the Nordics
- Carve-out from Posten Norge, the Norwegian Post that is focusing on its core business
- Sweet-spot AURELIUS carve-out transaction and 4th Nordic portfolio company
- As Nordics market leader in temperature logistics, Bring Frigo is well positioned to expand its business internationally
- Outlook: 2021 to become a year of immense opportunities for AURELIUS
Munich / Stockholm, March 29, 2021 - AURELIUS acquires Bring Frigo, headquartered in Helsingborg, Sweden, from Posten Norge, the Norwegian Post. The transaction is a result of Posten Norge’s review of its portfolio which resulted in a stronger focus on its core business. The transaction is executed by AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) and will be funded jointly with co-investing other AURELIUS entities and is subject to approval by the relevant anti-trust authorities. The financial terms of the deal are undisclosed.
Bring Frigo generates sales of approx. EUR 250 million in FY 2020 and employs around 950 people. As a specialist in the temperature-controlled logistics market the company serves a broad range of customers in the food production, grocery retail and food service industries in the Nordic region, primarily the Swedish market. Bring Frigo operates a transportation organization combining nationwide coverage with strong local presence through a network of terminals, haulier and forwarding operations. It has 12 warehouses in Sweden and Norway. On a daily basis it operates approx. 700 trucks. The Nordic business is supported by International Transport, a transportation organization with a presence in Sweden, Denmark, Norway, Finland, the Netherlands and France.
With this transaction AURELIUS further expands its regional presence in the Nordics and continues to demonstrate its expertise in the carve-out of entities from large groups that intend to focus on their core business. AURELIUS will support Bring Frigo in the carve-out process from Posten Norge to ensure a smooth continuation of daily business activities and the successful establishment of the company as an independent entity.
“We are very pleased to welcome Bring Frigo – one of the Nordic market leaders in temperature logistics – to AURELIUS Group. We are convinced of Bring Frigo's growing success, as the company has by far the strongest logistics network in Sweden, as well as the infrastructure, the capital and the know-how to further internationalize its business. We look forward to working with the Bring Frigo team in the future to support this exceptional logistics company in its expansion into the European market”, said Leif Lupp, Managing Director AURELIUS Nordics.
Aurelius was advised by Castlegreen (Financial), Roland Berger (Commercial), Cederquist (Legal) EY (Tax) and INTARGIA (IT Due Diligence).