In 2024, Stora Enso entered into an agreement to acquire 100% of the Finnish sawmill company Junnikkala Oy. This acquisition aims to secure a cost-efficient wood supply to Stora Enso's packaging board site in Oulu, Finland, and to support Stora Enso's wood products business with new production assets.
The total enterprise value (EV) for the transaction is up to EUR 137 million, a significant part of it being contingent upon achieving specific production milestones. T
The transaction is subject to customary closing conditions including regulatory approvals, and is expected to close in the first half of 2025.
The Finnish Competition and Consumer Authority (FCCA) investigated the competitive effects of the merger between Stora Enso Oyj and Junnikkala Oy, particularly on the procurement of roundwood in the parties' procurement areas. The Authority assessed that the merger would not raise competition concerns, and therefore approved the merger unconditionally.
Junnikkala's sawmill operations will be fully incorporated into Stora Enso's Wood Products division and the wood procurement activities will be integrated into the Forest division. The acquisition is expected to gradually generate synergies of approximately EUR 15 million annually once the new sawmill in Oulu is fully operational.
