Volvo Construction Equipment (Volvo CE) has finalised the acquisition of Swecon from Lantmännen, following approval from the European Commission.

The deal closed on 31 January, after regulatory reviews concluded last month.

Volvo CE first announced an agreement to purchase Swecon in June 2025, outlining plans to acquire operations across Sweden, Germany, Estonia, Latvia and Lithuania, as well as associated business Entrack.

With the transaction complete, Swecon’s full business now operates under Volvo CE. This includes product and service sales, equipment rental, aftermarket support, offices and workshop facilities.

Approximately 1,400 employees have transferred as part of the acquisition.

Swecon reported revenues of Skr10bn ($1.12bn) for the 2024 financial year.

Volvo CE indicated that this move aligns with its strategy to expand retail operations in key European markets such as Germany, Sweden and the Baltic states.

The expanded footprint means Volvo CE now owns and manages most of its retail business in Europe.

Volvo CE head Melker Jernberg said: “We are excited to welcoming all employees from Swecon to Volvo and we believe that together, we will be stronger and better equipped to continue to enhance the support to our customers in their transition towards more sustainable and productive solutions.”

In conjunction with the acquisition’s close, Tomas Kuta has been named head of Swecon, replacing Tomas Börjesson, who is retiring. Kuta previously served as head of Volvo CE.

Börjesson said: “By joining forces, Swecon combines its market expertise with Volvo CE’s innovation power, while customers continue to receive the same trusted support, services, and points of contact - now strengthened to help them succeed today and tomorrow.” 

Swecon had operated under Lantmännen, an agricultural cooperative with interests in agriculture, energy, food and machinery sectors.

Entrack continues to supply aftermarket products independently within Swecon and operates in Sweden, Italy, Finland and Poland.