Krogerus advises on the sale of Pölkky to Pfeifer Group
Krogerus advised the shareholders of Pölkky Oy on its sale to Pfeifer Holding GmbH. Pölkky is the largest wood processing company in private ownership in Northern Finland, with sawmills and processing plants in Kuusamo, Taivalkoski, Kajaani, Kitka and Oulu. Pölkky employs approximately 420 people and most recently recorded an annual turnover of some EUR 200 million. Pfeifer Group is an Austrian company focused on timber construction, formwork, pallet blocks, packaging timber and energy.
The transaction strengthens Pfeifer’s position as one of the leading European timber industry companies and prepares the producer to face global competition. Following the completion of the acquisition, Pfeifer Group’s number of employees in Austria, Germany, the Czech Republic and Finland rises to some 2,600, with an estimated turnover of EUR 1.4 billion in 2023.
The Krogerus team was led by Partner Mika Ståhlberg and he was assisted by Senior Associate Antti Luhtala and Associate Ari Natunen. Partner Simo Autio led the advice on competition law and regulatory matters and he was assisted by Associate Oskar Kaskela.