HS Timber Group, a leading global player in the wood processing sector, has successfully acquired Kurekss SIA, a prominent Latvian company. The acquisition, which includes Kurekss’s subsidiary, Kurzemes Granulas SIA, was finalised after approval was granted by the Latvian competition authority.
This strategic move expands HS Timber Group’s presence in the Baltic region. The integration of Kurekss SIA strengthens the company’s portfolio of sustainably operated sawmills and renewable wood processing facilities.
“We are delighted to officially welcome the Kurekss team to the HS Timber Group,” said Juergen Bergner, CEO of HS Timber Group. “Their experience, commitment, and strong regional position perfectly complement our strategy for sustainable and responsible growth.”
Kurekss SIA has built a strong reputation for high-quality timber products and environmental responsibility. This acquisition enables HS Timber Group to access new opportunities within Latvia and the wider Baltic region. The acquisition also strengthens its sustainability efforts by incorporating more renewable wood processing facilities.
The Kurekss and Kurzemes Granulas brands will remain unchanged under the new ownership. Additionally, the existing management team will continue to lead operations, ensuring a seamless transition. This leadership continuity will help maintain the high operational standards that Kurekss SIA is known for.
HS Timber Group intends to explore synergies between the two companies to unlock further growth opportunities. Both companies will work closely together to develop innovative products and expand their market reach. The focus will be on enhancing sustainable wood processing and creating new solutions for the industry.
Jānis Apsītis, the former owner of Kurekss SIA, expressed confidence in the future direction of the company. “I wish the team at Kurekss SIA all the best for the future. With HS Timber Group as a new owner, we know the companies are in good hands and are excited to see future developments.”
HS Timber Group has long been a key player in the timber industry. The company has a global presence, with more than 2,700 employees serving commercial and industrial customers in over 80 countries. Its commitment to producing sustainable wood products is central to its business model. The company’s diverse portfolio includes both sawmills and timber trading, with a strong focus on renewable resources.
In addition to its operations in wood processing, HS Timber Group owns a significant stake in DABG (Dr. Anna Bauthen Gesellschaft), a leading timber trading company based in Vienna. DABG has been trading sawn conifer timber for more than 40 years. It serves markets across the Middle East, North Africa, and Eastern Africa, further extending HS Timber Group’s international reach.
HS Timber Group is part of the Evergreen Privatstiftung, an Austrian foundation that oversees various subsidiaries in industries such as wood processing, forestry, real estate, and trade. The foundation is dedicated to ensuring the long-term sustainability of its holdings and promoting innovation in the timber industry. It also supports philanthropic initiatives, contributing to various non-profit causes.
The completion of the acquisition marks an important step for HS Timber Group’s growth strategy. It continues to strengthen its presence in the Baltic region and ensures it can serve customers worldwide with high-quality, sustainable wood products. The company’s goal is to remain at the forefront of the timber industry by focusing on innovation, sustainability, and responsible business practices.
As HS Timber Group continues its expansion, it remains committed to its mission of promoting sustainability in the wood processing sector. The integration of Kurekss SIA will help the company meet its environmental goals while unlocking new opportunities for innovation and growth.
This acquisition further solidifies HS Timber Group’s position in the global timber industry. With the combined strength of both companies, HS Timber Group is well-equipped to meet the growing demand for sustainable, high-quality wood products.
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