Stena agrees to acquire Norwegian ferry operator Color Line
Swedish industrial group Stena AB has entered into an agreement to acquire Norwegian ferry operator Color Line, in a transaction that would bring together two established companies in European passenger and freight transportation.
The proposed acquisition, announced on October 26, remains subject to regulatory approval. The parties expect the transaction to be completed towards the end of the first quarter or during the second quarter of 2027, while the financial terms have not been disclosed.
The agreement involves Stena AB’s wholly owned subsidiary, Stena Rederi AB, acquiring all shares in Color Group AS from ONS Invest II AS, an investment company owned by Norwegian industrialist Olav Nils Sunde and his family. Color Group currently owns 100% of Color Line and its subsidiaries.
The transaction would expand Stena’s presence in the European ferry market by combining businesses with complementary passenger and freight operations.
Color Line to retain its identity and Norwegian operations
Under Stena’s plans, Color Line will continue operating as a separate business and brand following completion of the acquisition. The company is also expected to retain its local management in Norway and its Norwegian-registered vessels.
Stena intends to support Color Line’s further development through its experience in maritime operations, technology, digitalisation, logistics and decarbonisation. The group has indicated that maintaining Color Line’s established market position and customer relationships will remain an important part of its approach.
Niclas Mårtensson, CEO of Stena Line, described the agreement as a milestone in the company’s development, highlighting the opportunities arising from bringing together two established ferry operators.
He said the combination could strengthen business opportunities while supporting tourism, maritime connectivity and more sustainable shipping.
Color Line CEO Trond Kleivdal also welcomed the agreement, emphasising the importance of preserving the company’s established identity while benefiting from Stena’s industrial experience and resources.
The proposed ownership change is not expected to alter Color Line’s operating structure immediately, and both companies will continue conducting their activities independently until the necessary regulatory approvals have been obtained.
Existing ferry services to continue during approval process
Stena confirmed that the signing of the agreement will not affect scheduled sailings, passenger bookings or existing relationships with customers and suppliers at either Color Line or Stena Line.
Both operators will remain separate and independent businesses while the transaction undergoes regulatory review.
Stena Line currently operates a fleet of 40 vessels across 19 routes in Northern Europe and the Mediterranean, carrying passengers and freight through approximately 35,000 sailings annually.
Its operations form part of the wider European logistics network, connecting maritime transport with road and rail freight services while also supporting regional tourism.
Color Line brings an established presence in the Scandinavian ferry market, with operations serving passenger and freight customers. Stena considers the companies’ complementary activities an opportunity to strengthen their respective market positions following completion.
The acquisition would also provide a framework for cooperation on operational efficiency, customer services and technological development, although the companies have not announced specific integration measures or changes to their route networks.
The proposed transaction represents a significant development in European ferry shipping, but its completion remains conditional on regulatory clearance.
Until that process is concluded, Color Line and Stena Line will continue operating independently, with existing services and customer arrangements remaining unchanged.
