Stena signs agreement to acquire Color Line

The Swedish industrial Group Stena AB, owner of ferry operator Stena Line, has entered into an agreement to acquire the Norwegian shipping company Color Line, subject to regulatory approval. The transaction will bring together two companies with complementary operations in European passenger and freight transport, creating added value and benefits for both companies’ customers.

Privately owned Stena’s acquisition of Color Line from Norwegian industrialist Olav Nils Sunde and his family will unite two successful ferry operators with deep roots in Scandinavian maritime traditions, strong market expertise and high customer satisfaction.

“This is a true milestone in Stena Line’s history, further strengthening our ability to be a reliable link between places, people and communities. When we welcome Color Line to the Stena family, I am confident that together we will be able not only to develop our business opportunities but also to contribute to the positive development of communities, including through tourism and more sustainable shipping,” says Niclas Mårtensson, CEO of Stena Line.

“Color Line is one of the most recognized and valued brands in our industry, and Stena wants to preserve these strengths while giving us a stronger foundation for the company’s further development and renewal as part of Stena. Together with our skilled and dedicated employees, we will have the strength to shape the future through quality, efficiency and reliability in every part of our business,” says Color Line’s CEO Trond Kleivdal

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →