Bergs’s subsidiary PTPG acquires window and door company in the UK and moving closer to London
On 13 January 2022, Performance Timber Products Group (PTPG) acquired all shares in the English company P&P Holdings Limited (P&P) with annual sales of approximately GBP 7 million (SEK 85 million).
PTPG is one of the UK's leading players in the premium segment of wooden windows and doors and was acquired by Bergs in June 2021. PTPG is now moving forward in its expansion plans and acquiring P&P, which sells, distributes and installs windows and doors in Surrey and South West London. The companies have been working closely together for several years, where P&P sells windows and doors under the name Timber Windows, which is PTPG's network of showrooms for retail sales.
“The acquisition of P&P is fully in line with our strategy and strengthens our offering across the Timber Windows network. PTPG has had a long relationship with P&P and we see good opportunities for growth within their main territories", says Peter Nilsson, President and CEO of Bergs.
The closing took place on 13 January 2022. The acquisition is expected to have a marginal impact on Bergs’s earnings per share.
For further information regarding this press release, contact:
Peter Nilsson, President and CEO, +46 (0)70 315 09 27 or Anders Marklund, CFO, +46 (0)70 284 47 96.
About Bergs
An international wood products Group
The Bergs Group consists of independent subsidiaries, with clear responsibilities for results, that develop, produce and market processed wood for various applications.
With years of experience in wood and a great deal of competence in processing, Bergs promotes building a sustainable society based on renewable raw materials from sustainably cultivated forests in the Baltic Sea region.
Operations are conducted in Sweden, Estonia, Latvia and the UK, and the Group’s products are sold in some 20 countries. The largest markets consist of Scandinavia, the Baltic countries, the UK and France. The head office and Group management are located in Sweden.
The company’s share has been listed on Nasdaq Stockholm since 1984.