CORRECTION: Grigeo Group AB subsidiary Grigeo Hygiene UAB acquires company Huchtemeier Papier GmbH

Core Insights - Grigeo Group AB has successfully acquired 100% of Huchtemeier Papier GmbH, marking its entry into the German market [2][4]. Company Overview - Huchtemeier Papier GmbH specializes in supplying hygiene paper, napkins, and paper raw materials to wholesalers, specialized retailers, and industrial customers [3]. - In 2024, Huchtemeier Papier GmbH reported sales of €92 million and an EBITDA of €2.6 million, with a workforce of 47 employees and sales offices in Germany, Austria, Poland, and Turkey [3]. Financial Performance - Grigeo Group AB achieved an annual consolidated turnover of €213 million in 2024, with an EBITDA of €34.8 million and a net profit of €20.9 million [4]. - The acquisition is expected to significantly enhance Grigeo Group's sales and EBITDA by expanding its presence in the Western and Central European markets [4]. Strategic Implications - The acquisition of Huchtemeier Papier GmbH represents a strategic move for Grigeo Group to penetrate the German market and leverage growth opportunities in the region [4].