VR focuses on rail transport in freight traffic – sells road logistics business to investment company Mutares

15th November 2024

VR is focusing its logistics business on rail transport and is selling its road logistics unit to the investment company Mutares. As a result of the transaction, the personnel working in road logistics and customer contracts will be transferred to a newly established company. The completion of the transaction requires approval of Finnish Competition and Consumer Authority, which is expected by the end of the year.
As a transport operator, VR is focusing on its core businesses of passenger and freight transport. Additionally, the company aims to divest its station and depot properties to create a neutral operating environment for competition. In freight traffic, VR will focus on rail transport and is now selling its road logistics business serving heavy industries.

“We continue to focus on our core businesses, and the sale of road logistics is a natural next step in implementing our strategy. I am happy with the performance of road logistics in recent years
despite a difficult market environment, and I want to thank our employees for their excellent work in this challenging market situation. The new company, focusing on road transport, as an owner, enables even better development of the business from the perspectives of customers and the market. The existing employees, customers, and partners are an important resource and competitive factor, so the starting points for the new company – and further strengthening the competitiveness of the business, are excellent,” says VR’s CEO Elisa Markula.

”With this transaction, Mutares further builds on its presence in Finland, after successful realignment and improved performance in Palmia and Redo. Additionally, this acquisition will leverage our proven success in the logistics sector, with Frigoscandia as a prime example in the Nordics. We are very happy to welcome VR Road Logistics to our portfolio and remain committed to continuing the growth of our presence in Finland and the Nordic region”, says Johannes Laumann, CIO of Mutares.

In 2023, the turnover of road logistics was about 80 million euros, and the transport volumes were 4.0 million tons. Approximately 75 people who work in road logistics operations in Kouvola, Riihimäki and Tampere, will transfer to the newly established company as part of the transaction.

The parties have agreed not to disclose the purchase price. The transaction does not affect VR’s rail logistics business.