Aspo’s subsidiary Telko has completed the acquisition of leading Swedish chemical distributor Swed Handling AB
Source: GlobeNewswireAspo Plc
Press Release
July 1, 2024 at 13.00
Aspo’s subsidiary Telko has completed the acquisition of leading Swedish chemical distributor Swed Handling AB
Aspo’s subsidiary Telko Ltd has completed the acquisition of Swed Handling AB in Sweden. Aspo announced on 29 April 2024 that Telko expands its chemicals business in Sweden by acquiring Swed Handling AB, a leading Swedish chemical distributor, from TeRa Invest AB. As part of the transaction, Aspo’s subsidiary Leipurin Plc expands its food industry business in Sweden, via the technical food ingredient distributor Kebelco AB, which is a subsidiary of Swed Handling. The transaction has been completed today on 1 July 2024.
The purchase price for Swed Handling AB’s shares was agreed to be paid in full with a cash consideration of SEK 473 million (approx. EUR 42 million*), subject to customary post-closing adjustments. Aspo’s shares are thus not used for the payment of the purchase price. Additionally, Telko has committed to pay in 2026 in cash an additional earn-out of SEK 0–130 million (approx. EUR 0 – 11 million*) based on the 2024–2025 results, depending on Swed Handling AB’s profitability development, excluding Kebelco.
*Based on the SEK–EUR exchange rate of 11.338 on 27 June 2024. Actual future outcomes may differ from the estimates.
Aspo Plc
Rolf Jansson
CEO
Further information:
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com
Mikko Pasanen, Managing Director, Telko Ltd, tel. +358 40 743 6665, mikko.pasanen@telko.com
Miska Kuusela, Managing Director, Leipurin Plc, tel. +358 40 820 1943, miska.kuusela@leipurin.com
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Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 16 different countries, and it employs a total of approximately 700 professionals.
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