Stena AB, owner of Stena Line, has signed a deal to acquire Norway’s Color Line.

The parties have agreed not to disclose the value of the proposed transaction, which is subject to regulatory approval and expected to be completed towards the end of Q1 or during Q2 2027.

The transaction will be structured as a share purchase agreement, according to a statement.

Under it, 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.

“This is a true milestone in Stena Line’s history, further strengthening our ability to be a reliable link between places, people and communities,” said Niclas Mårtensson, CEO of Stena Line.

“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.”

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.

Color Line’s CEO Trond Kleivdal noted: “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.”

The signing of the agreement will not affect sailings, bookings or ongoing customer and supplier relationships within Color Line or Stena-owned Stena Line, the statement reads.

Both companies will continue to operate as separate, independent businesses while the transaction awaits.