Pervanovo, the parent company of Bjelin industries in Croatia and Välinge Group in Sweden, has through its subsidiary Välinge Croatia signed an agreement to acquire 85% of the shares in the Croatian furniture company Spin Valis. Pervanovo said its intention is to acquire 100% of the shares of Spin Valis, which is one of Croatia's largest manufacturers of solid oak furniture and 420 employees, and the company will be renamed Bjelin Spinvalis. The acquisition requires approval from the antitrust authorities.
The acquisition means that large-scale production and marketing of furniture with Välinge's click technology can be achieved faster than originally planned and the availability of oak material will increase. Spin Valis will be renamed Bjelin Spinvalis.