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A Swedish forestry entrepreneur is selling his multimillion-dollar timber industry empire. However, he will keep his 31,000 hectares of forest.
A forestry entrepreneur from Sweden is selling his multimillion-dollar timber industry empire. Karl Hedin (75) is parting ways with his life's work after more than 40 years. As he explained to the Swedish newspaper Dagens Industri, his "daughters are not willing to take it over." Now, Handelsbanken has been tasked with finding a new owner for the sawmills, construction trade, and packaging industry of the Karl Hedin Group. He did not disclose the exact value to the newspaper. Also of interest: Combating bark beetles: Where is debarking sensible?
Entrepreneur with a XXL forest ownership of 31,000 hectares in Sweden
However, he will continue to retain his forest ownership of over 31,000 hectares and the financial operations of the group as they are easier to manage. In the last major valuation in 2019, the group was valued at 7.2 billion Swedish Krona (SEK) - including debts of 680 million SEK and the forest areas, as reported by the industry magazine Lantbrukets Affärsnyheter (ATL). Karl Hedin explained his decision to Dagens Industri: "I would like to live to 150 years old, but I don't think that will happen. We should just think about it now. There must be a good continuation. After all, many people are involved and depend on it running well."
7,100 hectares of private forest: Wood packaging company to Denmark
In addition to the group's forests, Hedin also owns over 7,100 hectares of private forest, according to the Swedish Lantbrukets Affärsnyheter. A buyer has apparently already been found for the wood packaging company Karl Hedin Emballage, one of the largest in Scandinavia. It will be taken over by the Danish packaging and pallet manufacturer Dansk Træemballage (DTE), as the company itself announced.
With material from Dagens Industri, ATL Lantbrukets Affärsnyheter, Sweden Herald
Report: "31,000 hectares of forest: Multimillion-dollar timber industry empire is being sold" was first published in Forstpraxis.