Stena AB, the Swedish transport group, has agreed to acquire the Norwegian ferry operator Color Line. This deal, which links two major ferry companies in Scandinavia, will significantly help Stena expand its presence in the European travel and freight markets.
Details of the acquisition agreement
This acquisition, announced on Monday, requires approval from regulatory authorities and is expected to be completed by the end of the first quarter or during the second quarter of 2027. The financial terms of the deal have not been disclosed.
According to the agreement, Stena AB's subsidiary, Stena Rederi AB, will acquire all shares of Color Group AS from ONS Invest II AS. ONS Invest II AS is owned by Olaf Nils Sund, a Norwegian industrialist, and his family.
Strengthening Stena's position in the ferry market
This deal places Color Line's fleet of five ships and four international ferry routes under a shared ownership with Stena Line, one of the largest ferry operators in Europe. Stena Line operates 40 ships on 19 routes in Northern Europe and the Mediterranean Sea.
Color Line provides services between Norway and Germany, Denmark, and Sweden, including the Oslo–Kiel route serviced by the large cruise ships Color Magic and Color Fantasy. Other services connect Kristiansand and Larvik to Hirtshals, Denmark, and Sandefjord to Strömstad, Sweden.
In 2025, Color Line transported nearly 3.6 million passengers and 150,000 freight units, generating revenue of approximately 6.7 billion Norwegian krone (about $700 million).
Impacts on operations and future
Stena Line also conducts approximately 35,000 annual trips, transporting passengers and freight across a vast European network. The company has revenue of 20.2 billion Swedish krone and employs around 8,750 people.
This merger strengthens Stena's position in Scandinavian ferry transport and adds Color Line's Norwegian operations to its broader European network. Niklas Martensson, CEO of Stena Line, described this deal as a milestone in the company's history and sees it as an opportunity to expand operations and support sustainable tourism and transport.
Despite the change in ownership, Stena has stated its intention to maintain Color Line as a separate business, preserving its brand, Norwegian management, and registered Norwegian fleet. The Swedish group has also planned to support further investment in reducing the fleet's carbon footprint, technology, digitalization, customer service, and freight logistics.
Trond Kleivdal, CEO of Color Line, welcomed the agreement, stating that Stena's ownership will provide a stronger foundation for the future development of this Norwegian operator while maintaining its existing market position.
Both companies have announced that there will be no immediate changes to ferry schedules, bookings, or existing customer and supplier relationships. Both operators will continue to operate independently while the deal is under regulatory review.
This agreement represents a significant consolidation in the Northern European ferry industry, bringing together two long-established family-owned maritime businesses with complementary route networks and large passenger and freight operations.
