SWEDEN - Accent reaps 5x money on Gryckbo sale to Arctic

A fine paper mill located in the Dalecarlia region of Sweden, Gryckbo was acquired by Accent in 2006, with the investor for an entreprise value of SEK 350m.

Since 2009, Grycksbo has produced parts of the Arctic branded product range on behalf of Arctic. The production represents one fourth of Gryckbo's production capacity. Its own main brand, G-print, is a coated, wood free paper and is well suited for direct mail, illustrated books, manuals, catalogues, maps, posters, magazines and packaging.

Grycksbo generally supplies paper to wholesalers, printers, publishers and converters, with European exports counting for around 93% of production. Last year, sales amounted to SEK 1.7bn, and the business employs around 470 people.

With the challenges in the media sector, particularly printed media, the paper industry has suffered through a few challenging years recently with weak profitiability. Yet, Arctic succesfully listed on the Warsaw Stock Exchange in October last year, and is now seeing an increase in both sales and profits.

The outlook is optimistic: By adding its approximate 260,000 tonnes per year production capacity to the Arctic group, Arctic will increase its capacity to more than 800,000 tonnes per year.

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