Grigeo, a group of companies producing wood fiber panels, cardboard and toilet paper, has purchased a toilet paper factory in south-eastern Poland for an undisclosed sum. According to Grigeo’s report, the value of the factory is 22 million. Eur.
Grigeo’s subsidiary Grigeo Hygiene has completed the transaction for a 100% stake in Niedomickie Zaklady Papiernicze, a company controlled by the Polish company Glucholaskie Zaklady Papiernicze (GPZ), the group announced.
The group informed about the signed preliminary factory purchase-sale agreement last September.
This is the first purchase of the Grigeo group in Poland.
According to the group’s general director Tomas Jozonis, the transaction is a strategic step for Grigeo, which aims to gain a stronger foothold in Eastern and Central Europe, to strengthen trade opportunities in Germany and other Western European countries.
As “Verslo žinios” wrote, according to unaudited data, the GZP unit located in Niedomice, in 2022 annual turnover was 40 million. EUR, and EBITDA – 3.8 million. Eur. According to the available data, the value of the mentioned business could reach about 22 million. Eur.
This means that Grigeo, which does not cost even four EBITDA profits, is buying a company in Poland for almost 6 EBITDA profits, or 65% more expensive.
Grigeo financed the purchase of the factory located in the town of Niedomice, 90 kilometers from Krakow, from the accumulated funds. It currently employs about 170 employees, has a paper machine and converting lines.
According to unaudited data, the income of the Polish factory in 2023 was about 40 million. Eur.
In the acquisition transaction, financial advisors Superia assisted in financial matters, law firms Glimstedt and Penteris provided legal assistance, and audit, tax and business consulting company KPMG performed the financial audit.
About 860 employees work in the AB “Grigeo” group of companies. According to unaudited data in 2023 The annual turnover of AB “Grigeo” group of companies reached 195.4 million. Eur. Group EBITDA (earnings before taxes, interest and depreciation) compared to 2022 increased by 17.6 million EUR up to 38.9 million. Eur.
in 2023 The net profit of AB “Grigeo” group of companies amounted to 29.6 million. EUR or 18 million EUR more than during the same period in 2022. period.
Shares of Grigeo AB are included in the official trading list of the Vilnius Stock Exchange.
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Theme “Industry”
