G & L Beijer AB is acquiring 100 per cent of the Irish refrigeration company, Gasco Ireland Ltd. Gasco reports sales of approximately SEK 22M (EUR 2.6M) and has six employees.

The acquisition is a step forward in the consolidation of the Irish market and G & L Beijer becomes a leading refrigeration wholesaler in Ireland. Gasco is strong within refrigerants and complements G & L Beijer’s existing operation in Ireland, which has its main focus on refrigeration products and air conditioning.

Gasco Ireland will be merged with G & L Beijer’s Irish operation, Dean & Wood. Pro forma sales will amount to approximately EUR 6M (around SEK 50M). The merger is expected to generate synergy gains through cost savings. The acquisition also involves an extended product programme with the opportunity to reach additional customer groups with an improved product and service offer.

The consideration for 100 per cent of Gasco Ireland Ltd amounts to EUR 712,000 (approximately SEK 5.9M). The acquisition is deemed to have a marginal positive effect on G & L Beijer’s profit per share. Gasco Ireland Ltd will be included in G & L Beijer’s accounts from 1 August 2012.

Malmö, 2 August 2012

G & L Beijer AB (publ)

For further information, please contact:
Joen Magnusson, CEO
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91

or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

G & L Beijer is a technology-oriented trading Group which, through a combination of added-value agency products and products of the company’s own development, offers competitive solutions for its customers within refrigeration and air conditioning.