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Today Vest-Wood A/S and Pfleiderer AG have reached agreement about Vest-Wood’s acquisition of Pfleiderer AG’s door activities (“Pfleiderer”).

Through this acquisition Vest-Wood increases its leading Nordic market position within doors with an also leading position on Europe’s biggest door market, Germany. Hereby Vest-Wood will become one of the two largest manufacturers of doors in Europe.

The acquisition is a natural extension of the growth strategy, which the management has defined with the new owners for Vest-Wood.

Pfleiderer is Germany’s largest door manufacturer with a turnover of more than DKK 900 m. The main part of the turnover is formed by internal doors, which primarily are sold through the German DIY wholesalers, timber merchants and larger building contractor companies.

Pfleiderer sells external doors under a row of Germany’s strongest brands within doors, such as Moralt, Wirus and Swedex. The sales are primarily in Germany, however, there is also export to Austria, Switzerland and Hungary.

The production takes place on three modern factories in Germany and in Hungary. Pfleiderer is the only German door manufacturer with production in East Europe.

Until now, Pfleiderer AG, which is a listed German building material group with a turnover in the last fiscal year on approx. DKK 10 billion, has owned Pfleiderer. The divestment happens as a consequence of the group’s focusing strategy.

Pfleiderer and Vest-Wood’s existing German activities will on relevant areas be merged as soon as possible.    Vest-Wood has allocated the necessary management resources, which together with Pfleiderer’s management must handle an integration of the two companies.

The merger of the two companies on the German-speaking markets contents considerable growth possibilities such as better utilisation of the sales teams and distribution channels, a wider geographically extension of the Vest-Wood products and a generally wider product range. Having acquired Pfleiderer, Vest-Wood has the widest product range on the German market.

”While Pfleiderer has a strong position at the German timber merchants, Vest-Wood has a strong position at the DIYs. Furthermore, Pfleiderer has a product range adjusted the German market, which Vest-Wood does not manufacture. Furthermore, we in Vest-Wood have a strong range of panel doors, which Pfleiderer does not master. Therefore, we count on considerable cross sales by using Pfleiderer’s product range in the DIYs and Vest-Wood’s in the timber merchants”, says CEO Asbjørn Berge, Vest-Wood.

With the acquisition Vest-Wood will become the largest supplier of internal doors in Germany, with a market share on approx. 19%. The second largest supplier of internal doors in Germany is estimated a market share on approx. 12%.

With the acquisition Vest-Wood will increase its sales outside the Nordic countries from approx. 30% of the groups total turnover to approx. 55%.

The acquisition of Pfleiderer only awaits approval from the relevant national anti-trust authorities.