Acquisition of Polar Frakt AS

Press release:  19.04.2022

Frigoscandia expands its offering in Norway through the acquisition of Polar Frakt AS

Frigoscandia’s owner Mutares SE & Co. KGaA has successfully completed the acquisition of Polar Frakt AS from private owners as an additional investment to Frigoscandia Group.

In Norway, Frigoscandia currently operates three cold stores and a traffic office outside Oslo, and the acquisition strengthens its Nordic service offering as the market leader in temperature-controlled food logistics. Frigoscandia will now be able to utilize Polar Freight’s existing network in Norway, which will further strengthen Frigoscandia’s international transports, as well as domestic.

Polar Frakt is a relatively new logistics company, but it has a history from the, in Norway, well-known Kjell Hansen Shipping eftr. AS, which means that the company has a long experience, loyal customer base and well-established contacts in the Norwegian logistics industry. With Polar Frakt on board, we are now increasing our presence and offering to the Norwegian market in food logistics. This is a step to support our seafood strategy in Norway, which is an important segment in Frigoscandia’s business plan, says Frigoscandia’s CEO, Peter Haveneth.

There are very clear synergies between our companies that we can quickly implement, where our focus on northern Norway fits well with Frigoscandia’s offering to the rest of Norway and continental Europe. We are now looking forward to taking the next step in our development together with Frigoscandia Group, says Polar Frakt’s CEO, Kenneth Andersen.

This transaction marks the first add-on for Frigoscandia under Mutares ownership and demonstrates our ambition of cementing Frigoscandia’s position as the leading temperature-controlled logistics platform in the Nordics, says Marcus Österberg, Senior Investment Manager, Mutares SE & Co. KGaA.

Polar Frakt, headquartered in Oslo, Norway, specializes in transporting goods from Oslo to northern Norway. For this purpose, Polar Frakt AS operates two leased terminals (Oslo and Bjerkvik) and transports around 25 to 30 trailers per week.