Ballingslöv acquires the Kvik Group which is the second largest kitchen company in Denmark with annual sales of approximately MSEK 500

As of April 1, 2005, Ballingslöv has acquired the Kvik group with headquarter and production site in Vildbjerg outside of Herning on Jutland. In 2004 Kvik had a turnover of MSEK 485, an increase of 20% compared to 2003, and earnings before taxes was MSEK 58. Kvik provide the Ballingslöv Group a strong market position in the fast growing do-it-yourself market segment. Combined with the other brands in the group, Ballingslöv Group is now well represented in all market segments. During the last years Kvik has experienced a strong growth due to delivering products at an attractive price level, powerful marketing and gradual expansion of its franchise concept in Denmark, Sweden, Norway and Finland. In these markets, Kvik currently has 70 franchisees and 5 owned shops. In 2005 a continuous expansion of franchisees is planned also reaching outside on the Nordic region. Consumers have a choice of buying the Kvik products, either fitted or do-it-your self delivered from the retailers The acquisition of Kvik fits well into the strategy of Ballingslöv Group, to grow also by acquisitions which primarily shall complement current structure with respect to products, distribution and market segments. The purchase price is divided in a fixed amount and variable amount based on the financial development of Kvik in 2005-2007. The acquisition is fully financed by bank loans. Following the acquisition of Kvik, the Ballingslöv Group will on an annual basis get a turnover in the size of MSEK 2000 per year. The acquisition is expected to give a positive impact on EPS already during 2005. Nils-Erik Danielsson, CEO and President Ballingslöv International AB (publ)