Södra Timber has signed an agreement to acquire a significant shareholding in Danish timber importer Tage Peetz.
Södra made the move as it sees Denmark as a priority market with future growth potential.
“The acquisition of Tage Peetz gives us access to a strong sales organisation with a great deal of knowledge about the Danish market and the opportunity to develop our Danish business,” said Peter Nilsson, president of Södra Timber.
The transaction is to be completed this summer. Södra Timber also has an option to acquire the remaining shares in Tage Peetz.
The company will immediately change its name to Södra Timber. Södra Timber’s current office in Denmark will be closed and its staff transferred to the new company.
“The intention is to continue building on our existing customer base and develop our market offer,” added Mr Nilsson. “We will retain the Tage Peetz range and combine it with our own products.”
Tage Peetz joint owner Jan Hansen said the purchase, combined with Södra’s recent acquisition of Rorvik’s pressure-treatment plant in Åstorp, gave the business new opportunities to serve the Danish building and timber trade.
