Volvo Construction Equipment (Volvo CE) has completed the Volvo Construction Equipment acquisition of Swecon from Lantmännen, following regulatory approval from the European Commission. The transaction closed on 31 January after all required reviews were concluded last month.
The deal was first announced in June 2025, when Volvo CE outlined plans covering Swecon’s operations across Sweden, Germany, Estonia, Latvia and Lithuania, along with associated business Entrack. With the transaction now finalised, the Volvo Construction Equipment acquisition of Swecon brings Swecon’s full business under Volvo CE, including equipment sales, service operations, rental activities, aftermarket support, offices and workshop facilities.
Around 1,400 employees have transferred as part of the acquisition. Swecon reported revenues of Skr10bn ($1.12bn) for the 2024 financial year. Volvo CE said the move aligns with its strategy to expand direct retail operations in key European markets such as Germany, Sweden and the Baltic states, resulting in the company owning and managing most of its retail business across 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.”
As part of the transaction’s completion, Tomas Kuta has been appointed head of Swecon, succeeding Tomas Börjesson, who is retiring. 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 previously operated under Lantmännen, an agricultural cooperative with interests across agriculture, energy, food and machinery sectors. Entrack continues to supply aftermarket products independently within Swecon and operates in Sweden, Italy, Finland and Poland.