Correction to the inside information

Aspo subsidiary makes major acquisition in Sweden – Telko to become a leading local player in distribution of chemicals and Leipurin expands into specialty ingredients and the food industry

Aspo Plc
Inside information
April 29, 2024 at 11:45

Correction to the inside information: Aspo subsidiary makes major acquisition in Sweden – Telko to become a leading local player in distribution of chemicals and Leipurin expands into specialty ingredients and the food industry

Aspo Plc corrects and supplements the insider information published on April 29, 2024 at 09:25 regarding Telko’s acquisition. The original announcement incorrectly stated that the purchase price would be SEK 500 million. Corrected information:

• The enterprise value is SEK 500 million (approx. EUR 43 million*)
• The estimated purchase price at closing is SEK 473 million (approx. EUR 40 million*)
  
  *Based on the SEK–EUR exchange rate of 11.7052 on April 26, 2024.

The original announcement did not include the following information:

• The transaction does not have an impact on Aspo’s guidance for 2024, which remains unchanged: Aspo Group’s comparable operating profit is estimated to exceed EUR 30 million in 2024.
  
  
  

The full text with the above mentioned corrected and supplemented information in its entirety is available below.

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Aspo's subsidiary Telko Oy 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 Oyj expands its food industry business in Sweden, via the technical food ingredient distributor Kebelco AB, which is a subsidiary of Swed Handling.

In Aspo Group’s financial reporting, Swed Handling excluding Kebelco will be reported as part of the Telko segment and Kebelco as part of the Leipurin segment. The closing of the transaction is subject to customary competition authority approvals and foreign direct investment (FDI) filings. Closing of the transaction is expected during the third quarter of 2024.

“We are excited to take this step in our compounder strategy execution and expand in Sweden through this acquisition which doubles our net sales in chemicals. With Swed Handling’s existing customer focused business model that combines high quality processed chemical products with customized service, we are significantly strengthening Telko’s presence in the Nordic markets”, says Mikko Pasanen, Managing Director of Telko.

“Acquiring Kebelco enables Leipurin to expand further in the food industry, beyond the bakery segment, with high value specialty products in line with our strategy. So far Leipurin has operated in Sweden primarily in the bakery segment, while in Finland expansion also to other food industry is well on the way. This acquisition enables our shift towards technical value add products, with obvious synergies with all Leipurin countries”, says Miska Kuusela, Managing Director of Leipurin.