Volvo CE Seals €600M Deal to Bring Swecon Onboard

In a move that’s set to reshape its European presence, Volvo Construction Equipment (Volvo CE) has reached an agreement with Lantmännen to acquire Swecon’s operations in Sweden, Germany, and the Baltics — plus its affiliate Entrack. The deal, valued at SEK 7 billion, is still pending regulatory approval but is expected to be finalized in the second half of 2025.

The acquisition will see Volvo CE take over Swecon’s full-scale operations in these markets: everything from product sales and rental services to aftermarket support, workshops, offices, and — perhaps most importantly — the 1,400 skilled employees who keep it all running.

It’s a strategic leap for Volvo CE, reinforcing its direct connection with customers in some of its most vital territories. Germany, Europe’s largest market for construction equipment, Sweden, Volvo CE’s home turf, and the fast-growing Baltic nations — Estonia, Latvia, and Lithuania — will all be part of the strengthened network. Once complete, Volvo CE will own and operate most of its European dealership business, making retail operations a core pillar of its strategy on the continent.

“In these times of transformation for our industry, when our competitiveness is truly being tested, it’s more important than ever to work closely with our customers,” says Melker Jernberg, President of Volvo CE. “By bringing Swecon into Volvo CE, we believe we can boost customer satisfaction even further.”

For Lantmännen, a farmer-owned cooperative active in agriculture, energy, food, and machinery, the move marks a significant shift. Swecon generated SEK 10 billion in revenue in 2024, while Entrack — fully owned by Lantmännen — has been a trusted supplier of aftermarket products.

With this deal, Volvo CE is tightening its grip on Europe’s construction equipment market — and strengthening the bonds with the people who build its future, one project at a time.