Volvo Construction Equipment Acquires Swecon

Volvo Construction Equipment (Volvo CE) has entered into an agreement with Lantmännen to acquire Swecon's business operations in Sweden, Germany, and the Baltics, including Entrack. The acquisition, valued at 7 billion SEK, is subject to regulatory approval and is anticipated to close in the second half of 2025.

The acquisition encompasses Swecon's business scope in these markets, including product and service sales, rental operations, aftermarket services and support, as well as offices, workshop facilities, and approximately 1,400 employees.

Volvo CE views this as a strategic initiative to further invest in retail operations within key markets such as Germany, Europe's largest construction equipment market, Sweden, Volvo CE's home market, and Estonia, Latvia, and Lithuania. This acquisition will significantly expand Volvo CE's retail footprint in Europe, making retail a core focus for the company on the continent.

Melker Jernberg, Head of Volvo CE, stated, "At this time of transformation of our industry where our competitiveness is put to test, directly collaborating with our customers is even more important to be successful, and through the acquisition of Swecon we believe we can drive an enhanced customer satisfaction.”

Lantmännen is an agricultural cooperative with diverse activities spanning agriculture, energy, food, and machinery. For the full year of 2024, Swecon reported revenues of 10 billion SEK. Entrack is a provider of aftermarket products, wholly owned by Lantmännen.

Date: June 24, 2025

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The Volvo Group is a global leader in transport and infrastructure solutions, offering trucks, buses, construction equipment, and power solutions for marine and industrial applications. Founded in 1927 and headquartered in Gothenburg, Sweden, the Volvo Group is dedicated to shaping the future of sustainable transport and infrastructure. With over 100,000 employees serving customers in nearly 190 markets, the company reported net sales of SEK 527 billion (EUR 46 billion) in 2024. Volvo shares are listed on Nasdaq Stockholm.