Grano Group Oy acquire Lonnberg Painot Oy

Grano Group Oy, a Finland-based company involved in print media and a subsidiary of Panostaja Oyj, a listed Finland-based company engaged in investing and helping to develop companies, has agreed to acquire Lonnberg Painot Oy, a Finland based company providing printing services. The sellers included Keski-Pohjanmaan Kirjapaino Oyj, a Finland-based Publishing and printing company, and private investors Mr. Jarkko Viheriavaara, Mr. Pertti Ailio and Mr. Timo Kantokorpi. The transaction will help Grano to strengthen its expertise in premium printing and will diversify its offering in terms of packaging services. It will also help in increasing the service production capacity and will complement Grano’s customer coverage. Post completion, Mr. Viheriavaara will enter Grano as a part-owner and Executive Vice President of Grano, he will also continue as the CEO of Lonnberg. Post completion, Panostaja’s shareholding in Grano will stand at 52.6%. Lonnberg reported net sales of EUR 24.5m for the year ended 31 December 2016 and employed about 170 staff. The transfer of ownership is expected to be completed by 01 September 2017. Aventum acted as adviser to Grano Group in the transaction.