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Press release

2021-11-25 07:00 CET

Green Landscaping Group expands its presence in Norway through the acquisition of Håkonsen og Sukke Landskapsentreprenør AS

Green Landscaping Group AB (publ) has acquired Håkonsen og Sukke Landskapsentreprenør AS with a turnover of approximately NOK 170 million.

25 November 2021, 07:00 CET

Håkonsen og Sukke was founded in 2008 and is one of Norway's most solid Landscaping companies with good profitability. The company employs about 90 people and is active in geography west of the Oslo Fjord with headquarters in Tønsberg.

- Håkonsen og Sukke is a company we have had on the radar for a long time, and when the time was right, a dialogue began. The company is run by skilled leaders who share our view on both leadership and culture. We see that the management of the company through Roar Håkonsen, Brede Sukke and Tommy Lier will continue to run the company in the same way as before, but with the difference that they now have colleagues in Green Landscaping Group. We welcome all employees in the company to the group, concludes Johan Nordström, CEO of Green Landscaping Group.

- Our intention was not to sell the company, but when we saw the other players that have become part of Green Landscaping Group, we became curious. Then, when we understood what the group intends to achieve by its decentralized model, we realized that the offer was the right next step for Håkonsen og Sukke. We will continue to run the company and are owners through investment in Green Landscaping Group. This gives us further inspiration to continue developing Håkonsen og Sukke and we are pleased to become colleagues with the group's other companies in Norway, says Roar Håkonsen, CEO of Håkonsen og Sukke.

Green Landscaping Group acquires 100 percent of the shares in Håkonsen og Sukke with immediate access. The acquisition is financed within existing credit facilities and through a non-cash issue of own shares. The Board has therefore, within the scope of the authorization from the Annual General Meeting on 14 May 2021, decided on the issue of 331,201 shares in Green Landscaping Group, aimed at the sellers of Håkonsen and Sukke. This corresponds to a dilution of 0.64% of the share capital and votes in the Green Landscaping Group. The total number of shares in Green Landscaping Group after the issue has been 52,477,196 shares. The acquisition is not expected to have a significant effect on the result for 2021.

The previous owners of Håkonsen og Sukke are now shareholders in Green Landscaping Group (publ).

The information was, through the contact person below, submitted for publication on 25 November 2021 at 07:00 CET.