Balco Group AB (OM:BALCO) acquired Riikku Group Oy for ?15 million on January 22, 2024.The agreed purchase price amounts ?15 million on a cash and debt-free basis. The amount of ?3 million will be paid with newly issued shares to Riikku's former owners. The remaining ?12 million is financed with own cash and was paid half upon entry and half over the next four years with a quarter per year. the annual general meeting on May 9, 2023, directed new issue of a total of 0.7 million shares in the company to the sellers of Riikku Group Oy with payment by offsetting the reverse issued by Balco Group to the sellers. The acquisition, which is the largest Balco Group has completed to date, will be consolidated from 1 January 2024 and is expected to contribute positively to earnings per share during the full year 2024. Riikku and its subsidiaries will continue to be run by the current management with Joakim Petersen-Dyggve as Managing Director. The Riikku Group had a turnover of approximately ?40 million in 2023. Jan Johanson from Krogerus Attorneys Ltd. act as legal advisor for Balco Group AB.

Balco Group AB (OM:BALCO) completed the acquisition of Riikku Group Oy on January 22, 2024.