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
PwC Legal:
Dr. Minkus Fischer (lead), Robert Dorr, Hildegard Günzel (all Corporate/M&A, Stuttgart/Munich), Susanne Zühlke, Justus Lucka (both antitrust law, Berlin)
PwC Germany:
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)
About PwC Legal Business Solutions:
In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.
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About PwC Germany:
Our clients face diverse challenges, strive to put new ideas into practice and seek expert advice. They turn to us for comprehensive support and practical solutions that deliver maximum value. Whether for a global player, a family business or a public institution, we leverage all of our assets: experience, industry knowledge, high standards of quality, commitment to innovation and the resources of our expert network in 149 countries. Building a trusting and cooperative relationship with our clients is particularly important to us – the better we know and understand our clients’ needs, the more effectively we can support them.
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