Södra Timber has signed an agreement in principle regarding the acquisition of a significant shareholding in timber importer Tage Peetz in Denmark. The transaction is to be completed this summer. Södra Timber also has an option to acquire the remaining shares in Tage Peetz.
“Denmark is a priority market for Södra Timber where we see future growth potential. We therefore need a stronger presence and a larger organisation. 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.
Tage Peetz has eight employees at four offices in Denmark with its head office in Hilleröd, north of Copenhagen. 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. Current owners Frank Lund Larsen and Jan Hansen will continue working in the company.
“The intention is to continue building on our existing customer base and develop our market offer. We will retain the Tage Peetz range and combine it with our own products,” said Peter Nilsson.
“Through its co-ownership in Tage Peetz, Södra is making a positive contribution to the structural change currently taking place in the Danish timber market. The new Södra in Denmark will have a comprehensive range of quality products with substantial volumes and a competitive offer. We consider our new set up will prove to be a competent and powerful partner for customers and suppliers alike on the Danish timber market,” said Frank Lund Larsen.
“In conjunction with Södra’s recently acquired pressure-treatment plant in Åstorp, we gain completely new opportunities to serve the Danish building and timber trade. In addition, Södra’s range provides us further opportunities to develop new products for the Danish market,” says Jan Hansen.
For further information please contact:
Peter Nilsson, President Södra Timber, +46 70 315 0927
Frank Lund Larsen, President Tage Peetz, +45 2637 5300