Stora Enso, the Finnish pulp and paper company, has announced its plans to divest its wood products DIY unit located in Amsterdam, the Netherlands. The divestment is set to take place in the third quarter of 2023, subject to regulatory approvals and consultation with employee representatives. Megahout, a company backed by the private equity firm Quadrum Capital, will be acquiring the unit.
The intended divestment of Stora Enso Timber DIY Products B.V. is in line with the company’s long-term strategy to focus on developing integrated mills for wood products production. The Amsterdam planing site is a small non-integrated unit with limited investment and growth opportunities, making it a non-core asset for Stora Enso.
Stora Enso’s CEO, Annica Bresky, stated that “We are committed to focusing on our core businesses, and this divestment supports that strategy. We are confident that Megahout, together with Quadrum Capital, will be a good owner of the business going forward.” The divestment will allow Stora Enso to concentrate on its core business operations and enhance its position as a leading provider of sustainable wood-based solutions.
Megahout is a Dutch company that specializes in the production and distribution of wood products. The acquisition of Stora Enso’s Amsterdam unit will enable Megahout to expand its product portfolio and strengthen its position in the market. The company’s CEO, Jeroen van der Heijden, expressed his excitement about the acquisition, stating that “We are pleased to have the opportunity to acquire Stora Enso’s DIY unit in Amsterdam. This acquisition aligns with our growth strategy and will allow us to better serve our customers.”
Stora Enso is a leading provider of sustainable wood-based solutions, with operations in over 30 countries. The company’s focus on sustainability has been a key factor in its success, and it has been recognized for its efforts in this area. In 2020, Stora Enso was listed on the Dow Jones Sustainability Index for the 17th consecutive year, demonstrating its commitment to sustainable business practices.
The divestment of Stora Enso’s Amsterdam unit is a strategic move that will allow the company to focus on its core business operations and enhance its position as a leading provider of sustainable wood-based solutions. The acquisition by Megahout will enable the Dutch company to expand its product portfolio and strengthen its position in the market. The transaction is expected to close in the third quarter of 2023, subject to regulatory approvals and consultation with employee representatives.
In conclusion, Stora Enso’s divestment of its wood products DIY unit in Amsterdam is a testament to the company’s commitment to its long-term strategy. The move will allow Stora Enso to focus on its core business operations and enhance its position as a leading provider of sustainable wood-based solutions. The acquisition by Megahout will enable the Dutch company to expand its product portfolio and strengthen its position in the market, making it a win-win situation for both companies involved.
