Vinge has advised Lantmännen in connection with its acquisition of the remaining shares in Scandbio AB. Scandbio AB was founded in 2014 when Lantmännen merged its operations with the Finnish company Neova. Both owners have held an equal number of shares in the 50/50 joint venture company since 2014.
Scandbio is Sweden’s largest company in the fixed refined forestry fuel sector with an annual turnover of around MSEK 1 000. The company is headquartered in Jönköping with operations at five sites in Sweden and one in Latvia. Scandbio manufactures, markets and sells wood pellets fuel to Sweden, Denmark and the Baltic States as well as stable pellets for the Swedish market. The company provides both industrial facilities as well as municipal and state-owned operations, local entrepreneurs and individual home owners with 100 per cent renewable energy.
The transaction is subject to the requisite approvals by the competition authorities.