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Posten Norge cancel agreement with Aurelius

On March 29th, Posten Norge AS announced that the subsidiary Bring Frigo would be sold to the German-based investment company Aurelius Group. Posten Norge announced on May 28th that Aurelius has not fulfilled its obligations within the time limit in the agreement between the parties. Posten Norge has therefore chosen to cancel the agreement.

CEO of Bring Frigo, Peter Haveneth, comments the decision below:

How is Bring Frigo affected by the decision that the agreement between the parties now has been cancelled?
That this situation is about a discussion between the selling and buying party, and has nothing to do with Bring Frigo’s operation. It was, however, an unexpected announcement. At the same time, it has been my and the rest of the management team’s assignment for a long time to prepare ourselves to operate as a completely independent company, regardless of owner. This commitment does not change due to the announcement made by Posten Norge.

Within Bring Frigo, investments are now being made in several different areas, will these be realized according to plan?
In 2020, the management team of Bring Frigo launched an ambitious business plan with focus on several important areas such as quality, sustainability, and multi-temp based on the Nordic market. We will continue to work on our business plan and the investments that are included in an unchanged pace.

Will Bring Frigo become a long-term part of Bring again?
Bring Frigo is a subsidiary that operates under Posten Norge’s business area Holding & Ventures, where companies outside the core business are grouped. What long-term plans our current owner have regarding the future ownership structure is a question for them. However, it is clear, that we will not be a natural part of their core business offer. Our commitment is to run Bring Frigo as a completely independent company, where we have created our own functions for example finance, HR, purchasing, and that our IT now will be migrated to its own operating environment – ie the company will not be integrated into other Bring and/or Posten Norge. The last phase of becomming stand alone will be carried out during the summer and early autumn – exactly according to plan.

Will Bring Frigo change its brand to Frigoscandia?
We will, according to plan, gradually re-brand to  Frigoscandia in 2021 and onwards. Soon we will change mail domain to @frigoscandia.com, which later will be followed by re-branding other important carriers such as website, customer portal, fleet stickers and more.

What focus will Bring Frigo have on the near future?
In summary, we will continue the work of realizing our ambitious growth and development plans. In recent years, we have taken great strides towards market demands; efficient and flexible warehouses and terminals, a growing share of fossil-free transport together with a high digitalization rate, something that benefits our customers. In the short term, we also hope to see a positive effect in the food logistics industry as the restrictions imposed by Covid-19 now gradually subside.

 

For more information:
Peter Haveneth, CEO Bring Frigo
E-mail: Peter.Haveneth@bring.com