XANO Industri AB (publ) (OM:XANO B) signed an agreement to acquire PiWi Beheer B.V. for €31 million on May 19, 2021. The purchase sum of €31 million is on a debt free basis and will be paid in cash. Under the agreement, XANO will acquire all the shares in PiWi Beheer B.V. with subsidiaries including Case Packing Systems B.V. As of March 31, 2021, PiWi Beheer reported total assets of approximately €14 million. For the year March 31, 2021, PiWi Beheer reported turnover of approximately €25 million. Consolidation will be effective as of May 31, 2021. The acquired units are expected to contribute SEK 1.20 (€0.12) in earnings per share on a yearly basis. Rogier van Merkestein of ING Corporate Finance acted as sole financial advisor to PiWi Beheer B.V.

XANO Industri AB (publ) (OM:XANO B) completed the acquisition of PiWi Beheer B.V. for €31 million on May 31, 2021.