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23-07-27 non-Regulatory

Beijer Ref enters the South Korean market through the acquisition of DS Maref

Beijer Ref has signed an agreement to acquire the operations of DS Maref, thereby establishing itself on the South Korean market. DS Maref is a distributor of refrigeration compressors and components as well as a manufacturer of chillers and evaporators. The company has annual sales of approximately SEK 375 million.

DS Maref was founded in 1986 and is headquartered in Seoul (South Korea). They have good relationships with internationally renowned manufacturers and possess extensive knowledge in the HVACR segment. The acquisition, which aligns with Beijer Ref's overall strategy, enables the business to further expand and strengthen DS Maref's product portfolio and benefit from the company's local knowledge in the South Korean market.

DS Maref currently has 82 employees and the acquisition is expected to have a minor impact on the Group's earnings and position.

Christopher Norbye, CEO Beijer Ref, comments:

"We are pleased to welcome DS Maref to the Beijer Ref Group. With its many years of operational experience and a broad network, the company provides valuable synergies. Furthermore, we have identified several development opportunities in the South Korean market and look forward to continue to create value for our customers and stakeholders together with DS Maref."

Malmö, 27 July, 2023
Beijer Ref AB (publ)

For more information, please contact:
Ulf Berghult
Telephone +46 40-35 89 00

Niklas Willstrand
Global Corporate Communications Manager

Telephone +46 40-35 89 00

BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 44 countries in Europe, North America, Africa and Asia and Oceania.