Swedish wood products company Vida is expanding its footprint into Central Sweden with the acquisition of three sawmills, reinforcing its position as a major player in Europe’s forest-based bioeconomy.
Vida, which is 77% owned by Canada’s Canfor Corporation, announced it has entered into a purchase agreement for AB Karl Hedin Sågverk, acquiring the business from Mattsbo Såg AB and minority shareholders for approximately €102 million (1.15 billion SEK), including €24 million in working capital.
The acquisition will add roughly 230 million board feet to Vida’s annual production, bringing its total output to around 2.1 billion board feet per year.
The company expects to realise up to €9.3 million in annual synergies within three years, citing improved log procurement, streamlined operations and consolidated marketing efforts.
Susan Yurkovich, president and CEO of Canfor, described the acquisition as a strategic step that enhances Vida’s geographic reach and product capabilities.
“These operations have access to exceptionally high-quality timber and are well positioned to complement Vida’s high-value product offering,” she said.
The three sawmills are located in Central Sweden, an area known for its rich forest resources and established forestry infrastructure.
The region plays a significant role in Europe’s renewable energy supply chain, especially as forest residues and wood byproducts are increasingly utilised for biomass energy, district heating and biofuel production.
While the acquisition is primarily focused on lumber production, it reinforces Vida’s position within the broader biomass value chain.
In Sweden and across the EU, sawmills are an integral part of the circular bioeconomy — supplying not only construction-grade timber but also wood chips, bark and other residuals used in energy generation and bioproduct manufacturing.
Vida already operates a network of sawmills and forest operations across Sweden. With the addition of the AB Karl Hedin Sågverk assets, the company deepens its access to sustainably managed Nordic forests and strengthens its supply chain for both wood products and biomass feedstock.
The deal is expected to be financed through a mix of cash on hand and new equity from Vida’s minority shareholders.
Subject to regulatory approvals and standard closing conditions, the transaction is set to close in the coming months.
Vida expands into Central Sweden with €102m biomass and sawmill acquisition
