G & L Beijer strengthens its position still further in the French and British markets

G & L Beijer strengthens its position still further in the French and
British markets

G & L Beijer AB is acquiring United Refrigeration's refrigeration
wholesale operations in France and the United Kingdom. United
Refrigeration, which is one of the largest distributors of refrigeration
products and comfort cooling systems in the USA, has decided to
concentrate its operations on the North American market.

The acquisition refers to two companies. The French company - Cofriset -
reports sales equivalent to SEK 520M and has 125 employees. The British
company - United Refrigeration (UK) Ltd - reports sales equivalent to
SEK 90M and employs 44. In total, the two companies report sales
equivalent to SEK 610M and have 169 employees. The total consideration
for both companies amounts to approximately SEK 240M on a debt-free
basis.  

With the acquisitions, G & L Beijer strengthens its position still
further in the French and British markets. The acquired companies sell
products which correspond to G & L Beijer's product range.

The synergy gains are primarily within purchasing and fixed costs.

G & L Beijer's profit per share is deemed to be marginally positively
affected. The acquisition is subject to approval by the French
competition authorities. The acquired companies will be included in the
consolidated accounts soon after the approval by the competition
authorities.

The acquisition will be financed through own funds and increased
borrowing.

Malmö, 1 September 2011
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.

In the previous year, operations were consolidated into comprising only
products within refrigeration and air conditioning. The operational
activities as a whole are carried out under the name of Beijer Ref.