Both companies have announced the purchase agreement and the transaction is expected to be concluded at the start of November 2017, dependent on clearance from competition authorities.
Binderholz described its move as milestone for the group.
“Both companies’ sites and products are a perfect fit for each other,” it said. “It is envisaged that the three Klenk sites will be expanded, with investment planned in the near future.”
Binderholz said Klenk Holz had good reputation in the market and the Klenk Holz brand would be retained. The purchase ensures the constantly growing demand for lumber for the Binderholz Group’s finishing and processing sites.
With this acquisition, the Binderholz Group will become one of largest producers of lumber in Europe, with seven sawmills in Austria, Germany and Finland, producing over 2 million m3 of solid wood products produced from 3 million m3 of lumber.
Klenk Holz, which has its headquarters in Oberrot in Germany, currently employs around 1,000 people at three sites in Germany, with a turnover of about €400m.
It produces lumber, solid wood panels, softwood lumber, multi-purpose panels, garden wood, solid construction timber, moulded pallet blocks, moulded wood pallets and waste timber, exporting about 30% of its products.
