Lentex buys wood flooring manufacturer Baltic Wood

Through its subisidiary Lentex, the Polish construction materlials producer Gamrat has acquired the wood flooring manufacturer Baltic Wood.

Gamrat has signed a definitive agreement to acquire 100 percent shares of Baltic Wood. The seller is Nowy Styl Group, one of the world's largest furniture manufacturers. Gamrat will pay 23 million Polish zloty, the equivalent of 5,1 million euro.

Baltic Wood annually generates revenues of approximately 120 million zloty (26,8 million euro) and a few million zlotys in net profit. More than 80 percent of its production is exported, mainly to Western countries. Baltic Wood floors reach customers in 44 countries in the world. The company's production plant and headquarters are located in Jasło (Poland), whereas its sales offices are located in Cracow and Jasło (Poland) and in Newark (USA).

Krzysztof Moska, one of the main shareholders Lentex and until recently president of Gamrat, commented on the transaction: ''With the acquisition we will complement our offer. We are already present in different segments of the area: in Lenteksie, our coverings are made of PVC, in Gamracie we produce sport products and decking out of WPC (wood-plastic composites). We had a choice: to supplement our offer with cheap laminate flooring, or MDF or floors of a higher quality. We chose the second solution. Baltic Wood is one of the world's top producers of engineered wood flooring in the world.''




Leave a Reply

Your email address will not be published. Required fields are marked *