The Austrian HS Timber Group has signed an agreement to acquire 100% of the shares in the Latvian wood processing company Kurekss SIA.

The transaction, which sees the acquisition from the previous shareholders, Jānis and Arnis Apsītis, is subject to approval by the competition authorities.

HS Timber’s acquisition also includes 100% of Kurzemes Granulas SIA.

The move follows hot on the HS Timber’s acquisition of another Latvian wood processing company Vika Wood SIA in January 2025.

HS Timber is making significant expansions steps in the Baltic region with the moves. 

“Kurekss is a fantastic addition to our international portfolio of sustainably operated sawmills,” said Juergen Bergner, CEO of HS Timber Group.

“Its experienced team and exceptional market reputation will contribute to the economic success of our group.”

Established in 1995, Kurekss is recognized as one of the leading sawmills in the Baltic region. It also owns and operates the pellet manufacturer Kurzemes Granulas SIA.

employees, Kurekss stands as one of the largest sawmills in the region. The very well-established brands Kurekss and Kurzemes Granulas will remain, and the existing management team will continue to run the operations.

“In today’s challenging wood business environment, Kurekss SIA is excited to join the HS Timber Group – one of the top European players,” said Jānis Apsītis.“With the clear vision of growth and excellent market knowledge, HS offers great potential for further development. The management of Kurekss is com