DB Schenker to acquire Finnish transport business

Helsinki, Finland: DB Schenker Logistics is to acquire Suomen Kiitoautot Oy in Finland, a wholly owned subsidiary of Kiitoautot Yhtiöt Oy.

DB Schenker will acquire the entire operating business.  Both companies have agreed not to disclose the purchase price.

Suomen Kiitoautot Oy and Schenker Cargo Oy, an affiliate of Oy Schenker East, together make up two thirds of the Kiitolinja chain.  Following the conclusion of the agreement, Suomen Kiitoautot Oy will continue to operate in the medium-term as an independent affiliate in domestic land transport in Finland alongside Schenker Cargo Oy.

“With this acquisition, DB Schenker is strengthening its presence in Kiitolinja’s domestic land transport,” said Karl Nutzinger, board member of Schenker.  “The acquisition consolidates Kiitolinja’s position at the top of the domestic land transport industry in Finland.  We were offered a chance to preserve the structure of the Kiitolinja chain in eastern and north-eastern Finland by acquiring Suomen Kiitoautot Oy, the company carrying out operations for Kiitolinja in those regions”

Measured by revenue, Suomen Kiitoautot Oy is one of the largest family-owned companies in the Finnish transport industry.  In 2010, the company, which was founded in 1959, generated revenue of roughly €50.5m and employed 441 staff.


Data ensures food safety

Portland, Oregan US: Eroad has launched a “next-generation” trailer monitoring and control system for supply chain assurance and fleet efficiency for cold chain transport. Engineered …


Thermo King accelerates electrification research

Galway, Ireland: Thermo King has opened a research and development center adjacent to its factory in Galway, Ireland. The research centere with up to 70 …


US: Angeles Equity Partners acquires majority stake in Freymiller

Oklahama City, Oklahama US: Angeles Equity Partners, in partnership with KJM Capital, has taken a majority stake in refrigerated transport provider Freymiller. Freymiller has 600 …


GCCA South Africa Cold Chain conference

Cape Town, South Africa: The Global Cold Chain Alliance is staging a cold chain conference in South Africa on 3-5 August in Cape Town Attendees …


© 2022 Global Cold Chain News | Terms and Conditions | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 7 Diddenham Court, Lambwood Hill, Grazeley, Reading RG7 1JQ