Beijer Ref AB: Beijer Ref acquires refrigeration wholesaler in Norway

Regulatory News:

The Swedish refrigeration Group, Beijer Ref AB (STO:BELE), is acquiring all shares in Børresen Cooltech A/S, a leading refrigeration wholesaler in Norway. Børresen Cooltech, founded in 1968, reports sales of close to SEK 60M and has 20 employees.

”Børresen Cooltech is a well-established refrigeration wholesaler in Norway and is considered to have a good development potential as part of Beijer Ref. The acquisition is strategically important for strengthening the Group’s position in Norway”, says Per Bertland, CEO of Beijer Ref.

Børresen Cooltech will be integrated into Beijer Ref’s organisation which is estimated to provide cost synergies and increase the Group’s market share.

The acquisition is deemed to have a marginal positive effect on Beijer Ref’s net income. The company will be included in Beijer Ref’s accounts from September 2014.

Malmö, 21 August 2014 Beijer Ref AB (publ)

Beijer Ref is a technology-oriented trading Group which, through added-value products, offers competitive solutions for its customers within refrigeration and climate control.

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