Privately owned Swedish ferry operator Stena is set to acquire Norwegian ferry company Color Line from industrialist Olav Nils Sunde and his family, bringing together two major operators with complementary passenger and freight transport businesses across Europe.
Under the proposed transaction, Stena AB’s wholly owned subsidiary, Stena Rederi AB, will acquire all shares in Color Group AS from ONS Invest II AS, which is owned entirely by Sunde and his family. Color Group owns 100% of Color Line and its subsidiaries. The financial terms of the deal have not been disclosed.
Stena said Color Line will continue to operate as a separate and independent business under its established brand, retaining local management in Norway and Norwegian-registered vessels. Stena plans to support the company’s development by leveraging its industrial expertise, international network and operational experience, with a focus on decarbonisation, technology, digitalisation, customer service and logistics.
The company also confirmed that the proposed acquisition will not affect sailings, bookings or existing customer and supplier relationships at either Color Line or Stena Line. Both businesses will continue to operate independently while the transaction undergoes regulatory review.
The acquisition is expected to be completed towards the end of the first quarter or during the second quarter of 2027, subject to regulatory approval.
Stena Line currently operates 40 ships across 19 routes in Northern Europe and the Mediterranean, undertaking approximately 35,000 sailings annually. The acquisition would expand Stena’s presence in European passenger and freight transport through Color Line’s established Norwegian operations.
Color Line operates five ships across four international ferry routes, connecting seven ports in Norway, Germany, Denmark and Sweden. In 2025, the company generated revenue of more than NOK 6.7 billion (approximately €645 million), carried nearly 3.6 million passengers and transported around 150,000 freight units to and from Norway.
The proposed acquisition marks a strategic move to combine the strengths of two established ferry operators while preserving Color Line’s Norwegian identity and operational independence.