Mercer International Inc. announced on Friday (7-22-22) that it had entered into an agreement to acquire all of the outstanding shares of the parent company of Holzindustrie Torgau (“HIT”) for consideration of €270 million, inclusive of forecasted net working capital of approximately €43 million.
HIT owns 100% of a timber processing and value-added pallet production facility in Torgau, Germany, and a wood processing plant in Dahlen, Germany, that produces garden products, as well as other assets.
The transaction is subject to customary closing conditions, including receipt of requisite regulatory anti-trust approvals. It is expected to close in the third or early fourth quarter of 2022.
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