28 March 2024 Grigeo AB Group of Companies has successfully completed the acquisition of one of the mills of Głuchołaskie Zakłady Papiernicze sp. z o.o (hereafter – GZP), a Polish producer of tissue paper and paperboard.
In compliance with the terms of the preliminary agreement, Grigeo Hygiene UAB, controlled by Grigeo AB, acquired 100 % of the shares of a GZP’s subsidiary Niedomickie Zakłady Papiernicze sp. z o.o, which is the operator of a tissue paper business in Niedomice, Poland. The acquisition was financed from funds raised by Grigeo AB.
Based on unaudited data, the annual turnover of the GZP’s division in Niedomice for 2023 was EUR 40 million, the estimated enterprise value is EUR 22 million.
Superia acted as financial advisors for Grigeo, Glimstedt and Penteris acted as legal advisors, and KPMG advised on the financial due diligence.
