Finland's state-owned postal delivery firm Posti is acquiring Sweden-based Aditro Logistics, according to statements issued by the firms on Monday.
Posti said the acquisition would strengthen its presence in the Nordics. Adrito Logistics has six warehouses in Sweden and one in Norway and the firm had net sales of 100 million euros last year.
The value of the acquisition deal was not disclosed, but Posti said it expected the transaction to be finalised during Q2 of this year.
Aditro Logistics was founded as Dila Logistik in Jönköping, Sweden in 1973. The company offers logistics services like warehousing, staffing and transportation and has a total of around 1,100 employees - 50 of which in Norway, with the remainder in Sweden.
The Finnish postal service and Adrito Logistics signed an agreement for the transfer on Monday, but the deal still needs approval from Swedish competition authorities.
According to Posti Group’s CEO, Turkka Kuusisto, the acquisition is in line with Posti's goals of boosting its logistics, parcel and e-commerce businesses.
"Posti is growing in line with its strategy, and through this acquisition we are strengthening our presence in the Nordics and the Baltic Sea region. Together, we can support our customers to be even more competitive in the market," Kuusisto said in a statement.
Posti has been struggling to develop its logistics department into a profit-making entity for some time. At the end of last year, an Yle investigation revealed that between 2008 and 2015, Posti's logistics services posted a loss of over 170 million euros.