Stena signs agreement to acquire Color Line
Swedish industrial group Stena AB, owner of ferry operator Stena Line, has agreed to acquire Norwegian shipping company Color Line from industrialist Olav Nils Sunde and his family.
The transaction will bring together two successful companies with highly complementary operations in European passenger and freight transport, creating added value and benefits for both brands' customers.
The transaction is structured as a share purchase agreement under which Stena AB’s wholly owned subsidiary, Stena Rederi AB, will acquire 100% of the shares in Color Group AS from ONS Invest II AS, which is wholly owned by the Sunde family.
The parties have agreed not to disclose the financial value of the proposed transaction. Subject to regulatory review and approval, the deal is expected to be completed towards the end of Q1 or during Q2 2027.
Following completion, Stena intends for Color Line to continue operating as a separate, independent business and brand. It will maintain its local management team in Norway and its ships will remain Norwegian-registered. At the same time, Stena plans to use its extensive industrial expertise, reach, and experience to strengthen and further develop Color Line – specifically in key areas such as decarbonisation, technology, digitalisation, customer service, and logistics.
Niclas Mårtensson, CEO of Stena Line, called the acquisition a true milestone in the company's history, stating: “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.”
Trond Kleivdal, CEO of Color Line, added that the partnership gives the company a stronger foundation for future development and renewal: “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.”
The signing of the agreement will not affect current sailings, bookings, or ongoing customer and supplier relationships. Both companies will continue to operate independently while awaiting regulatory approval.