Hakon Invest's wholly owned subsidiary Forma Publishing Group is to acquire Damm Förlag and thus strengthen its position in the book market. Forma has concluded an agreement to acquire Damm Förlag AB, which publishes fiction and non-fiction for children, young people and adults. The seller is the Danish media group Egmont. The acquisition is a good complement to Forma's present book publishing operations, which already include ICA Bokförlag and B. Wahlströms. Forma's President, Patrik Widlund, comments:"This acquisition is entirely in line with our growth strategy. We will increase our sales and achieve synergies with the operations within Forma Books. Damm's excellent publications and skilled employees will provide us with a good platform for growth." Tom Harald Jenssen, head of Egmont's book division: "We believe that Damm needs to have synergy gains in order to achieve profitable development. To realize the full potential of the company, we have chosen to sell Damm to a publishing company with a stronger market position." Damm Förlag has annual sales of approximately SEK 130 M and 46 employees. The head office is in Malmö. The takeover will preliminary take place during the first quarter of 2007. Following the acquisition of Damm Förlag, Forma's Forma Books business area will have sales in excess of SEK 300 M. For more information, contact: President Hakon Invest Claes-Göran Sylvén tel. +46-8-553 399 64 IR Manager Hakon Invest Pernilla Linger tel. +46-8-553 399 55 CEO Forma Publishing Group Patrik Widlund tel. +46-705 29 42 00 Hakon Invest, which is listed the Nordic Exchange, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, the Nordic region's leading retail company with focus on food. In addition have holdings in Forma Publishing Group, Kjell & Company, Hemma and Cervera. Further information about Hakon Invest is available at www.hakoninvest.se.
Forma acquires Damm Förlag
| Source: ICA Gruppen AB