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2009-07-02 08:15:00 CEST 2009-07-02 08:15:01 CEST Wulff-Yhtiöt Oyj - Tender offerWULFF-GROUP PLC TO EXPERIENCE SUBSTANTIAL GROWTH IN NORDIC COUNTRIES BY ACQUIRING STRÅLFORS SUPPLIES ABWULFF-GROUP PLC STOCK EXCHANGE RELEASE 2 July 2009, 9:15 a.m. WULFF-GROUP PLC TO EXPERIENCE SUBSTANTIAL GROWTH IN NORDIC COUNTRIES BY ACQUIRING STRÅLFORS SUPPLIES AB Wulff-Group Plc acquires a majority interest in the Nordic company Strålfors Supplies AB. The company's pro forma net sales in the accounting period ended on 31 December 2008 totalled SEK 356.9 million (EUR 32.5 million) and its pro forma operating profit was SEK 12.3 million (EUR 1.1 million). Strålfors Supplies AB, which sells office and computer supplies based on the contract customer concept, operates in Sweden, Norway and Denmark. The company has a staff of 43 people and employs 60 people in total. Following the transaction, Wulff-Group Plc will hold 68 per cent of the shares and votes of Strålfors Supplies AB, while Strålfors Supplies AB's five key employees command 12 per cent and Strålfors AB 20 per cent. Closing of the transaction will take place by end of August. The price of the shares acquired from Strålfors AB is SEK 40 million (EUR 3.6 million), which will be financed partly with Wulff-Group Plc's liquid assets and partly with long-term debt. Wulff-Group Plc acquires the remaining shares owned by Strålfors AB in 2011. Strålfors Supplies AB will boost Wulff-Group Plc's business in Scandinavia substantially. Wulff-Group Plc is the Finnish market leader in office supplies. This acquisition will make it also the biggest Nordic player in the field. Strålfors Supplies AB will continue to operate as an independent unit at its current facilities and with the current staff. Trond Fikseaunet will continue as the Managing Director. Heikki Vienola, CEO of Wulff-Group Plc, believes that the acquisition, which is in line with the company's Nordic growth strategy, will have a positive impact on the Group's performance. ”Strålfors Supplies AB is a well managed and profitable company. I believe the deal will begin to have a positive impact on our earnings per share this year. The deal will increase the Group's annual net sales by some 40 per cent, making us a key player in the Nordic countries. Strålfors Supplies has several important, long-term customers and is partner to many of Scandinavia's biggest companies. The deal enables us to develop a contract customer concept for large Nordic customers. The boost to our Scandinavian operations and the increasingly close Nordic cooperation within the Group will also benefit purchasing and logistics. Our new setup also entails considerable growth potential." Trond Fikseaunet, Managing Director of Strålfors Supplies AB, is satisfied with the new owner. ”Strålfors Supplies will get a competent owner from Wulff-Group - one with a strong drive to develop the business and pioneer the field. Wulff-Group is a solvent listed company, whose strategy emphasises continued growth. This is a great opportunity for us to take part in generating growth and to develop our operations. Our goal is to provide customers with solutions that offer them as much added value as possible. In cooperation with Wulff, we can offer increasingly versatile services of ever higher quality. I consider our cooperation to be a significant competitive advantage.” Strålfors Supplies AB is a subsidiary of Strålfors AB, a Swedish information logistics provider. Strålfors AB operates in the field of information logistics in Sweden, Norway, Denmark, Finland, France, the UK, Poland and Switzerland and is the market leader in the Nordic countries. It has been owned by Posten AB since 2006. Strålfors Supplies AB, which focuses on selling office and computer supplies to contract customers, has nearly 6,000 customers in Sweden, Norway and Denmark. 47 per cent of Strålfors AB's turnover comes from Sweden, 46 per cent from Norway and 7 per cent from Denmark. Wulff-Group Plc is the Finnish market leader in all of the main product groups that it sells. The company sells and markets office supplies, computer accessories, corporate promotional products, ergonomic products, as well as fair and event marketing services. Wulff-Group Plc is the only listed office supplies company in the Nordic countries. Its long-term goal is to become the Nordic market leader in its field. The Group has nearly 80,000 customers and over 450 employees, around 70% of them in sales. Wulff-Group Plc's net sales in 2008 totalled EUR 76.2 million and its operating profit was EUR 2.3 million. After the acquisition of Strålfors Supplies AB, the equity ratio of Wulff-Group will amount to 45%. The acquisition supports Wulff's growth strategy, in which acquisitions hold a key role. WULFF-GROUP PLC www.wulff.fi Further information: Heikki Vienola, CEO tel. +358 (0)9 5259 0050 or +358 (0)50 65 110 email heikki.vienola@wulff.fi Distribution: NASDAQ OMX Helsinki Key media www.wulff.fi |
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