Plukon Food Group B.V. has signed an agreement to acquire HKScan Denmark A/S form HKScan Oyj (HLSE:HKSAV) for ?44.6 million on May 2, 2024. The debt-free purchase price is ?44.6 million. The sale of the Danish business will continue to strengthen company's balance sheet and allow better focus on remaining businesses. The transaction will further change HKScan?s structure and financial key figures. As from HKScan?s Q1/2024 Interim Report, the Danish business will be classified as assets and liabilities held for sale and presented as discontinued operations. In 2023, the Danish business had net sales of ?230 million, comparable EBIT of ?3.3 million and approximately 680 employees on average. At closing, the cash portion of the purchase price, estimated at approximately ?35 million, will be paid in a one-off payment. As a result of this and the liabilities to be transferred, the net debt ratio is expected to decrease by approximately 16 percentage points. The transaction is expected to close during 2024 and will be subject to approval by the Danish competition authorities.

HJW Capital Advisors B.V. acted as financial advisor and Jens Folker Bruun, Mia Anne Gantzhorn and Mads Herdichek Langfeldt of Mazanti Andersen Korso Jensen & Partner acted as legal advisor to Plukon Food Group. Mika Ståhlberg, Jasmin Wardi, Joel Kanervo, Pessi Honkasalo, Kalle Hynönen and Alina Böling of Krogerus Attorneys Ltd. acted as legal advisor to HKScan.