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NOTE Acquires Property for Continued Expansion in Sweden
January 13, 2023 | NOTEEstimated reading time: 1 minute
NOTE has agreed with the current property owner to acquire the building and surrounding land where NOTE Torsby conducts its business. This is to enable a future expansion of the business to meet an increasing demand. The purchase price amounts to SEK 41.5 million.
NOTE Torsby currently rents the property where the business is conducted. The size of the plant amounts to just over 7,000 square meters and was expanded as late as 2021. NOTE has agreed with the current property owner to acquire the plant. Land of around 54,000 square meters is also included in the acquisition, which enables continued expansion of the business in Torsby. The purchase price amounts to SEK 41.5 million and the payment is made in cash based on NOTE’s strong balance sheet.
“NOTE continues to see an increasing demand from its customers. As late as 2021, the plant in Torsby was expanded by 2,200 square meters, but we already see that the growth forecast that was the basis for that expansion has been exceeded. Through the purchase of the property, we are preparing for further expansion,” says Johannes Lind-Widestam, CEO and President.
The deal is conditional on the city council approving the sale, which is expected to occur in the coming week.
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