Volvo Construction Equipment (Volvo CE) has received approval from the European Commission to acquire Swecon, following the conclusion of all required regulatory reviews.
The transaction, first announced on 24 June 2025, allows Volvo CE to proceed with the purchase of Swecon’s business operations in Sweden, Germany, and the Baltic states from Lantmännen, including its Entrack subsidiary, for Skr7bn ($762m).
The acquisition covers the full scope of Swecon’s activities, which include the sale and rental of construction equipment, aftermarket support, customer service, office and workshop facilities, as well as the transfer of 1,400 employees.
Swecon currently operates as an authorised retail partner for Volvo CE in Sweden, Estonia, Latvia, Lithuania, and most regions of Germany.
The company has been owned by Lantmännen for 25 years and reported net sales of Skr10bn in 2024.
With this decision from the European Commission, both parties anticipate finalising the transaction in the first quarter of 2026.
Upon completion, Volvo CE will own and manage a majority share of its European retail operations, expanding its direct presence in Germany, along with Sweden and the Baltic countries.
At the time of announcing the agreement, Volvo CE head Melker Jernberg said: “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.”
In November last year, Volvo CE also confirmed its plans to construct a new crawler excavator assembly facility in Eskilstuna, Sweden, aimed at strengthening operations in Europe.
