Stora Enso has completed the acquisition of the Finnish sawmill company Junnikkala Oy.
The acquired sawmills will be integrated with Stora Enso’s packaging board site in Oulu, Finland, and secure a cost-efficient wood supply to the site, where a new packaging board machine recently started ramping up production.
The total enterprise value for the transaction is up to €137m, a significant part of it being contingent upon achieving specific production milestones.
The acquisition is expected to gradually generate synergies of approximately €15m annually once Junnikkala’s new sawmill in Oulu is fully operational. The products of the Junnikkala sawmills will complement Stora Enso’s wood products portfolio.
