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Press release

2022-08-23 08:00 CEST

Green Landscaping Group strengthens its presence in Norway through acquisition of Braathen Landskapsentreprenør AS

23 August 2022 – 08:00 CEST Green Landscaping Group AB (publ) has signed an agreement to acquire Braathen Landskapsentreprenør AS with a turnover of approximately NOK 300 million.

Braathen Landskapsentreprenør was founded in 1968 and is today one of Norway's largest landscaping companies. The company offers a complete range of services in landscaping, land construction, infrastructure and maintenance of outdoor environments. The company employs approximately 180 employees, has its headquarters in Ytre Enebakk and carries out work mainly in the Oslo region.

- Braathen Landskapsentreprenør is a reputable company with a long history in the industry. In recent years, the company has been preparing for increased growth and expansion. Among other things, this has been managed through a clear sustainability strategy where the work aims to meet the customers' demands for a significantly increased proportion of electrified construction machinery. I am convinced that Braathen Landskapsentreprenør will be a strong addition to the group in the Norwegian market, says Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group.

- We have for some time considered changing the ownership in Braathen and after we started the dialogue with Green, we have met several key people in the group. Our overall view of these meetings is that we are entering a group of skilled entrepreneurs who will be able to help us to further develop Braathen's competitiveness. This is what Einar Braathen, Tom Borthen and Aslak Østvaag say at Braathen Landskapsentreprenør who, in connection with the acquisition, will reinvest in Green Landscaping Group.

Green Landscaping Group acquires 100 percent of the shares. The transaction is subject to the Competition Authority's approval and is expected to be completed during the third quarter.

The information was submitted for publication, through the agency of the contact persons, on 23 August 2022 at 08:00 CEST.