SCA has acquired Persson Invest’s 50% share in Gällö Timber to become the single owner of the business, strengthening its position as a leading Swedish producer of sawn timber.
Before the transaction, SCA owned 50 percent of the capital in Gällö Timber AB. The transaction will take place during the first quarter of 2024.
SCA and Persson Invest began their collaboration around Gällö Timber and the sawmill in Gällö, Jämtland in 2010.
Since 2010, significant investments have been made in the sawmill, which now has 115 employees and a capacity of 370,000 cubic meters of sawn timber.
SCA is Europe’s largest private forest owner with 2.7 million hectares and, with forest holdings at its core, has developed a well-invested industrial operation with sawmills, pulp mills, and manufacturing of packaging paper.
SCA and Persson Invest will continue to collaborate after the transaction, including by delivering sawn timber to Persson Invest’s operations and purchasing raw forest materials from Persson Invest’s forest holdings.
Ulf Larsson, CEO of SCA, said: “By acquiring the remaining part of Gällö Timber AB, we further strengthen SCA’s sawmill operation and continue the strong collaboration we have with Persson Invest. Through the investments we’ve made in Gällö together with Persson Invest, we have enhanced the operation’s competitiveness and secured local jobs.”