Stora Enso has acquired 100% of the shares in the German paper merchant Schneidersöhne Group. The acquisition price on a debt- free basis was EUR 450 million. Schneidersöhne is by sales volume the second-largest paper merchant in Germany and the fifth-largest in Europe and will become part of Papyrus AB. It has operations in 11 countries, 38 branch offices, including 20 in Germany. Schneidersöhne has 2,100 employees and had net sales of EUR 1,130 million in 2004.
Pöyry Capital acted as the Exclusive Financial Advisor to Papyrus AB and Stora Enso Oyj.