Benzinga
Mercer Acquires Wood Pallet Producer HIT For ~$275M
Mercer International Inc. (NASDAQ: MERC) has agreed to acquire all of the outstanding shares of the parent company of Holzindustrie Torgau (HIT) for consideration of €270 million ($275.4 million), inclusive of forecasted net working capital of ~€43 million. HIT is a producer of EPAL wood pallets used for shipping. HIT owns, among other things, 100% of a timber processing and value-add pallet production facility in Torgau, Germany, and a wood processing facility in Dahlen, Germany, that produces
