The industrial Group Stena AB, of Sweden, and the ferry owner of Stena Line have 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.
Following completion, Stena intends for Color Line to continue as a separate, independent business and brand, with local management in Norway and Norwegian-registered ships. (See separate former Irish Sea ferry chartered to Stena Line). At the same time, Stena will use its industrial expertise, reach, and experience to strengthen and further develop Color Line – including in decarbonization, technology and digitalization, customer service, and logistics.
“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.
The signing of the agreement will not affect sailings, bookings, or ongoing customer and supplier relationships within Color Line or Stena-owned Stena Line. Both companies will continue to operate as separate, independent businesses while the transaction awaits regulatory approval.
The transaction will be structured as a share purchase agreement under which Stena AB’s wholly owned subsidiary, Stena Rederi AB, acquires all shares in Color Group AS from ONS Invest II AS, which is wholly owned by Olav Nils Sunde and his family. ONS Invest II owns 100% of Color Group, which in turn owns 100% of Color Line and its subsidiaries.
The parties have agreed not to disclose the value of the proposed transaction, which is subject to regulatory review. The proposed transaction is expected to be completed towards the end of Q1 or during Q2 2027.
