In a press release this morning, the company announced that Performance Timber Products Group (PTPG) has acquired all of the shares in the English company P&P Holdings Limited with annual sales of approximately 85 million, measured in Swedish krona.
The takeover must have taken place on Thursday.
PTPG is one of the UK’s leading manufacturers of premium wood windows and doors and was acquired by Bergs in June of last year.
“Fully in line with our strategy”
PTPG is now pressing ahead with its expansion plans and the acquisition of P&P, which sells, distributes and installs windows and doors in Surrey and southwest London.
The acquisition of P&P is fully aligned with our strategy and enhances our offering within the Timber Windows Network. PTPG has a longstanding relationship with P&P and we see good opportunities for growth in their key geographic region, says Peter Nelson, Bergs President and CEO, in the press release.
The two companies have been working closely together for several years, with P&P selling windows and doors under the name Timber Windows, the retail PTPG’s network of showrooms.
Accessed January 13, 2022. The acquisition is expected to have a marginal impact on the earnings per share of Berg.
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