PwC advises Ziegler Group on acquisition of Greenwood Sverige AB
Stuttgart/Nuremberg/Stockholm, 18th May 2022
An international and multidisciplinary team from PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal), PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC Germany) and Öhrlings PricewaterhouseCoopers AB (PwC Sverige) provided comprehensive legal and tax advice to Ziegler Group on the acquisition of the Swedish sawmill corporation Greenwood Sverige AB from the sellers Profura AB and BAXAB AB.
The German-Swedish PwC Legal team led by Dr. Minkus Fischer performed the legal due diligence and assisted the client with the preparation and negotiation of the transaction documents. The German-Swedish tax team led by Thomas Breuch was responsible for the tax due diligence and tax structuring of the transaction.
Family-owned Ziegler Group with its headquarters in Plößberg in the Upper-Palatinate region is currently active with more than 2,200 employees in the fields of wood, logistics, house building, mechanical engineering, decoration, and gastronomy at 23 locations in Germany.
Greenwood Sverige AB is the centrepiece of widely branched Profura Group founded by Bernt Ivarsson. With its two sawmills Balungstrands Sagverk AB and Backebrons Sagverk AB located in the forest areas of central Sweden, Greenwood Sverige has a cutting capacity of yearly 700,000 scm of logs on a total of more than 35 ha of operating space.
By acquiring Greenwood Sverige, Ziegler is expanding its group abroad for the first time. The two Swedish sawmills open new possibilities for Ziegler Group with respect to purchasing and sales activities and enrich the existing product portfolio with the well-known very high-quality Nordic softwood. With Ziegler Group as a strong partner, both locations are to be further strengthened. The traditionally strong roots of Greenwood in the domestic markets should play a central role in the further development.
Advisors to Ziegler Group
Dr. Minkus Fischer (lead), Robert Dorr, Hildegard Günzel (all Corporate/M&A, Stuttgart/Munich), Susanne Zühlke, Justus Lucka (both antitrust law, Berlin)
Thomas Breuch (lead), Dr. Christina Fürst, Florian Legner (all Corporate Tax, Nuremberg)
PwC Sverige (Legal):
Olof Frånlund (lead), Martin Morén Jönsson, Caroline Falkhorn (all Stockholm)
PwC Sverige (Deals Tax):
Joackim Lundholm (lead), Axel Enquist, Lea Dörfler (all Stockholm)
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