mutares makes an irrevocable offer to acquire Metsä Wood France

mutares AG (ISIN: DE000A0SMSH2) has made an irrevocable offer to acquire Metsä Wood France SAS from Metsäliitto Cooperative.

Metsä Wood France is a wood upgrading company based in Honfleur and Boulleville, France, with 115 employees and a turnover of EUR 43m in 2014. Its distribution covers the whole French market serving a well-diversified customer base in the segments DIY, merchants, and industrials.

The irrevocable offer will be presented to the workers’ representatives of Metsä Wood France SAS in accordance with legal provisions. Further announcements concerning the transaction will be made after those consultations.

The acquisition of Metsä Wood France would be the second transaction of mutares and Metsä Group. In May 2015, mutares acquired Metsä Board Zanders, a German manufacturer of premium paper with with 480 employees and a turnover of EUR 93m in 2014.