Binderholz buys over Klenk Holz in major acquisition deal
The Austrian company Binderholz will acquire Klenk Holz AG, based in Oberrot, in what Binderholz says is a milestone for the group.
The sale is expected to conclude by early November.
“Both companies’ sites and products are a perfect fit for each other,” Binderholz said in a release. “The three Klenk sites will be expanded, with investment planned in the near future.”
The Klenk Holz brand will be retained as it has a good reputation in the marke. The purchase ensures the constantly growing demand for lumber for the Binderholz Group’s finishing and processing sites.
The acquisition makes the Binderholz Group one of largest producers of lumber in Europe: seven sawmills in Austria, Germany and Finland, producing over two million cbm of solid wood products produced from three million cbm of lumber.
Klenk Holz, which has its headquarters in Oberrot in Germany, currently employs around 1,000 people at three sites in Germany, with a turnover of about €400m.
It produces lumber, solid wood panels, softwood lumber, multi-purpose panels, garden wood, solid construction timber, moulded pallet blocks, moulded wood pallets and waste timber, exporting about 30 per cent of its products.