French Rose Group has acquired Estonian planing mill Puidukoda
Selge Talu, owned by Mr Enn Kinnas, has sold 100% shareholding in Estonian planing mill Puidukoda to French company Protac Ouest, subsidiary of Rose Group. The transaction brings no significant changes in Puidukoda’s operations, which will be continued under the management of the current CEO Mr Peeter Matson.
“For the past 17 years, I’ve invested most of my time and energy to develop Puidukoda. As a result, Puidukoda has become a strong, known and well-functioning company. With doubt, Rose Group is a good and capable owner in continuing Puidukoda’s further development. I owe many thanks to all employees, customers and cooperation partners who have played their role in Puidukoda’s successful development” says Mr Enn Kinnas, Puidukoda’s founder and former owner.
According to the owner of Rose Group, Mr Michel Rose, Puidukoda is a well-functioning and fast developing planing mill with strong position in European and Asian markets. “In addition to new markets, the acquisition provides Rose Group better and more flexible access to high quality Russian and Baltic raw material. We intend to expand Puidukoda’s operations further by introducing new investments, creating new jobs and extending Puidukoda’s product portfolio, especially with higher value-added treated products” says Mr Rose.
Puidukoda is an Estonian planing mill established in 1997. The company is involved in producing and marketing of planed timber products and profiled boards made of Nordic softwood. Roughly 70% of the production is exported to more than 20 countries worldwide. Puidukoda expects to reach annual sales of about EUR 17 million in 2013 and the company employs about 70 employees. Puidukoda has subsidiaries also in Poland and Czech Republic.
Protac Ouest is a subsidiary of French Rose Group involved in production and marketing of planed products in France. Rose Group, established in 1949, is a French timber group, located in Lamballe, Brittany. In addition to planed products, the group is involved in manufacturing and installing of pig shelters. The consolidated sales of Rose Group reach about EUR 40 million and the group employs roughly 160 employees.
Nordic CF Advisory is an independent Estonian investment banking company providing corporate finance services with individual approach and solutions. NCFA is focused on M&A advisory, business valuations and capital raising projects.
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