Privately owned Stena has entered into an agreement to buy Color Line, which is owned by Olav Nils Sunde and his family. Color Line will continue operating as an independent company within the group, Stena says in a press release.
The parties do not wish to disclose how much Stena is paying for the Norwegian shipping company. According to Stena, Color Line currently has five ships and had a turnover of just over 6.7 billion Norwegian kroner last year.
"This is a real milestone in Stena Line's history, as we further strengthen our ability to be a reliable link between places, people and communities," says Niclas Mårtensson, CEO of Stena Line, in the press release.
