KMC Properties acquires herring production facility in Sweden from Kldesholmen Seafood for SEK 94 million
KMC Properties ASA , a real estate company focusing on industrial and logistic properties, today announced the acquisition of a herring production and cold storage facility in Rönnäng, in the Swedish country of Västra Götaland, from KlädesholmenSeafood AB for approximatelySEK 93.6 million (approximatelyNOK 90 million ). "KMC Properties welcomes the opportunity to add another property to our portfolio, in line with our strategy. Klädesholmen Seafood is owned by Grøntvedt, our third-largest tenant, with offensive growth ambitions," saysLiv Malvik , CEO ofKMC Properties . Klädesholmen Seafood is a modern herring production company based on generations of knowledge and experience from the industry and close customer relationships.KMC Properties will acquire the 19.873 sqm BTA of land and 11.670 sqm BTA of buildings for approximatelySEK 94 million , with a yield-on-cost estimated at 7.5 per cent and lease it to Klädesholmen Seafood. The parties have agreed on a triple-net bare house agreement, with an initial lease term of 15 years. Klädesholmen Seafood is owned by Grøntvedt Pelagic AS, which isKMC Properties' third-largest tenant. Grøntvedt Pelagic is 31 per cent owned by BEWI Invest, who is represented at the board of Grøntvedt, and the largest shareholder ofKMC Properties . The pre-transaction process and conclusion to proceed with the transaction has been conducted at arm's length. Klädesholmen Seafood is the result of a merger between four local family-owned businesses in 2002. Today, the company's markets span the Scandinavian countries,Germany ,Russia ,Australia ,Japan ,Canada , andIsrael , delivering its specialized herring products to private labels, as well as restaurants and caterers. In 2020, Klädesholmen had a turnover of approximatelySEK 190 million , of which just over 90 per cent came from the Swedish market.NOK 30 million of the consideration will be settled by issuance of new shares inKMC Properties to the seller at a subscription price equal to the volume weighted average share price for trades in the company's shares on theOslo Stock Exchange the last 30 days prior to the date of completion of the transaction, and the remainder, approximatelyNOK 64 million will be settled in cash. The transaction is subject to confirmatory due diligence.KMC Properties' portfolio currently consists of 45 assets, primarily in the Nordics, constituting approximately 370,000 sqm in total. For further information, please contact:Liv Malvik , CEO ofKMC Properties ASA , tel. +4748003175 AboutKMC Properties ASA KMC Properties is an Oslo Børs-listed real estate company focusing on industrial- and logistic properties. The company has a diversified portfolio of properties in the Nordics andthe Netherlands , as well as an office building inMoscow, Russia . The properties are strategically located and have long lease agreements with solid tenants.KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives. The information is such thatKMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at19:10 CET on21 January 2022 .
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