Veidekke Entreprenør has concluded the agreement to acquire 80% of the shares of Grande Entreprenør AS i Verdal. "Grande is the leading construction contractor in north Trøndelag, and this strengthens our position in central Norway significantly. Grande is a perfect match with our ambitions and focus in this important region," says Dag Andresen, Managing Director of Veidekke Entreprenør.
Since its establishment in 1953, Grande Entreprenør has always been a local construction company with a strong social commitment in Verdal and Nord-Trøndelag, and has been actively involved in developing the local community and the region. With 200 employees, the company has experience in a wide range of construction works as well as expertise in project development and execution. Grande Entreprenør AS emphasizes being a professional, reliable company, and its annual turnover in recent years has been around NOK 550 million (excl. VAT).
"We're very pleased that this has materialized, and we're really looking forward to working with Veidekke on preparing Grande for the future. Veidekke is the nationwide construction company whose business philosophy most closely resembles our own, in respect of core values, corporate culture, work against social dumping, and commitment to developing professional expertise. With Norway's largest contractor as our main shareholder, we will gain greater expertise and a stronger position for the future, and we are confident that Grande Entreprenør can be further developed," says Morten Hynne, General Manager of Grande Entreprenør AS.
"Veidekke has strengthened its position in central Norway in recent years through the acquisition of Tore Løkke AS (80%) and Reinertsen. With Grande Entreprenør on our team, we will be able to serve the entire county of Trøndelag. We will have a combined construction turnover of more than NOK 2 billion in this region, in addition to Veidekke's extensive property development, asphalt and aggregates operations," said Ståle Brovold, District Manager of Veidekke Entreprenør Trøndelag, when the letter of intent was signed in October.
Takeover will take place with effect from 16 February. The purchase price is NOK 80 million.
Photo from signing the letter of intent (left to right): General manager Morten Hynne of Grande Entreprenør, Managing Director Dag Andresen of Veidekke Entreprenør, chairman Kåre Hynne of Grande Entreprenør and district manager Ståle Brovold of Veidekke Entreprenør Trøndelag.
For more information, contact:
District Manager Ståle Brovold, Veidekke Entreprenør, tel. +47 90 77 28 19, stale.brovold@veidekke.no
General Manager Morten Hynne, Grande Entreprenør, tel. +47 95 24 85 41, morten.hynne@grande-entreprenor.no
Communications Manager Helge Dieset, Veidekke Entreprenør, tel. +47 90 55 33 22, helge.dieset@veidekke.no
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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is approx. NOK 32 billion, and around half of its 7,700 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.
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