Vida has signed an agreement with AB Karl Hedin Sågverk to acquire its sawmills in Karbenning, Krylbo, and Säter in Sweden.
The transaction, which adds to its existing 12 sawmills, is expected to be finalized in the coming months.
“We are very excited about the opportunity to acquire Hedin’s sawmills which will be excellent additions to our twelve existing sawmills,” said Måns Johansson, CEO of Vida.
“Vida’s vision is ‘To grow,’ and this acquisition allows us to expand and establish into a new region, while further strengthening our competitive position.”
The three sawmills currently produce about 550,000m3 annually, and after the acquisition, Vida will have an annual production capacity of 3.3 million m3.
The company said Vida’s total production capacity and the specialization of these facilities will enhance Vida’s offerings to the global market and will strengthen its position as a leading supplier of sawn timber. The acquisition also provides Vida a stronger presence in central Sweden, bringing the company closer to even more forest landowners in Sweden.
“We are pleased to have found a new long-term owner in Vida,” said Karl Hedin, majority owner of AB Karl Hedin. “Vida’s corporate culture is similar to ours, with a focus on entrepreneurship and development. Together, our companies can leverage each other’s strengths and unique competencies and continue to be a major strong player in the industry.”
AB Karl Hedin will continue to operate under its current name and brand, with Fredrik Marnefeldt as CEO. The transfer is subject to Vida approvals from the relevant competition authorities.
