HEUKING advises Lantmännen on the divestment of Swecon to Volvo Construction Equipment
Lantmännen signed an agreement with Volvo Construction Equipment (Volvo CE) to divest Swecon, which is an authorized retail partner for Volvo CE in Sweden, Estonia, Latvia, Lithuania, and Germany. The transaction is subject to regulatory approvals. Closing is expected to occur in the second half of 2025.
A HEUKING Team led by the Dusseldorf Partners Dr, Martin Imhof and Astrid Luedtke advised Lantmännen with respect to the German parts of the transaction which were implemented through a separate purchase agreement.
Lantmännen is a Swedish agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 17,000 Swedish farmers, Lantmännen has 12,000 employees, operations in over 20 countries and an annual turnover of SEK 70 billion.
Swecon has been a division within the Lantmännen Group since its inception 25 years ago, and Swecon’s net sales in 2024 amounted to 10 billion SEK. The transaction includes Swecon’s entire business scope, i.e. sales of products and services, rental operations, aftermarket services and customer support as well as offices, workshop facilities and 1,400 employees. The deal also includes Entrack.
Volvo CE sees this as a strategic move to further invest in retail operations in key markets; Germany, which is Europe’s largest construction equipment market, Sweden, Volvo CE´s home market as well as Estonia, Latvia and Lithuania. In addition to the currently owned retail operations footprint, this acquisition will mean Volvo CE will own and manage the majority of the company´s business in Europe, making retail core for Volvo CE in Europe.
Counsel to Lantmännen
HEUKING:
Dr. Martin Imhof (Corporate / M&A – lead),
Astrid Luedtke (IP / Data Privacy – lead),
Dr. Christiane Viktoria Göb-Krumme (Corporate / M&A),
Dr. Melina Brune (Corporate / M&A),
Christoph Hexel (Employment),
Christoph Nöhles, LL.M. (Boston University), (Real Estate),
Beatrice Stange, LL.M. (King’s College London), (Merger Control / FDI), all Dusseldorf,
Fabian G. Gaffron (Tax),
Simon Pommer, LL.M. (Tax), both Hamburg
Photo credit: Lantmännen (Thank you!)
