Panostaja Oyj Stock Exchange Bulletin, August 18, 2017, 9:00 am
Panostaja Oyj’s subsidiary Grano Group Oy has today signed an agreement on the acquisition of the entire share capital of Lönnberg Painot Oy, a company providing printing services. The shares are sold by Keski-Pohjanmaan Kirjapaino Oyj, Jarkko Viheriävaara, Pertti Ailio and Timo Kantokorpi. The intention is to render the transaction binding to both parties on September 1, 2017.
The Lönnberg group provides versatile printing, publishing, digital content management and production services. In the 2016 financial year, the group’s net sales stood at MEUR 24.5 and it employed about 170 staff. The sale price of the shares is MEUR 12.8.
“Grano is Panostaja’s largest investment target, and the agreed upon acquisition represents a significant step forward in the consolidation of the sector, in line with the company’s strategy. The deal will provide Grano with more resources and expertise for service development and production. By virtue of this acquisition we will bring Grano’s service production capacity to a completely new level and bolster the company’s position in the field,” Panostaja’s CEO Juha Sarsama says.
Grano and Lönnberg have been very growth-oriented innovators in their field, and their service offering and customer coverage complement each other wonderfully. There is very little operational overlap. In addition to a range of diverse printing services, Lönnberg brings with it a vast pool of competence in digital content management, premedia, package production and direct marketing.
“Lönnberg is known for excellent customer service and impeccable quality. In addition to our organization as a whole, the acquisition specifically strengthens our expertise in premium printing and diversifies our offering in terms of packaging services,” CEO of Grano Jaakko Hirvonen describes.
“The merger enables us to provide our customers with better, more diverse and more efficient solutions than ever before in the context of digital and print marketing implementations,” CEO of Lönnberg - Jarkko Viheriävaara says in turn.
Viheriävaara will continue as the CEO of Lönnberg. He will enter Grano Group Oy as a part-owner and Executive Vice President of Grano, assuming responsibility for the Lönnberg integration and the management of the Group’s packaging business. Once Viheriävaara’s reinvestment has been implemented, Panostaja Oyj’s shareholding in Grano Group will stand at 52.6%.
In the financial periods January 1, 2016–December 31, 2016 and January 1, 2015–December 31, 2015, the Lönnberg Paino group’s net sales and EBIT were as follows (FAS):
(in thousands of euros)
| January 1, 2016–December 31, 2016 | January 1, 2015–December 31, 2015 | |
| Net sales | 24,524 | 22,796 |
| EBIT | 1,595 | 1,045 |
The balances in the consolidated financial statements on December 31, 2016 and December 31, 2015 were as follows:
(in thousands of euros)
| December 31, 2016 | December 31, 2015 | |
| Permanent assets | 5,159 | 1,797 |
| Stocks | 839 | 778 |
| Receivables and Liquid assets | 4,481 | 3,932 |
| Total | 10,479 | 6,507 |
| Equity | 3,969 | -1,278 |
| Minority share | 0 | 796 |
| Liabilities | 6,510 | 6,988 |
| Total | 10,479 | 6,507 |
Panostaja Oyj
Juha Sarsama
CEO
Further information:
CEO Jaakko Hirvonen Grano Oy +358 400 522 041
CEO Jarkko Viheriävaara Lönnberg Painot Oy +358 40 835 5499
CEO Juha Sarsama Panostaja Oyj +358 40 774 2099
Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in seven investment targets. Panostaja’s shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange. In the 2016 financial year, the Group’s net sales totaled MEUR 172.5.
www.panostaja.fi
Grano is the most versatile content service specialist in Finland, providing marketing communications and printing services. The company is a market leader in its field in Finland. Its services are available nationwide in 25 different locations, from Helsinki to Oulu. Panostaja’s shareholding in Grano is 53.9%. In the 2016 financial period, Grano’s net sales stood at MEUR 88.2 and the number of staff was nearly 900.
www.grano.fi
Established in 1922, Lönnberg Painot Oy is a service company which operates in the field of marketing communications and provides diverse printing, premedia and marketing communications services. The company’s head office is located in Helsinki. In the 2016 financial year, the group's net sales totaled MEUR 24.5 and it employs about 170 staff.
www.lonnberg.fi