Pfleiderer makes bid for Pergo
20 January 2007Engineered wood specialist Pfleiderer has launched a takeover bid for laminate flooring company Pergo.
The acceptance period for the cash offer - which values Pergo at €297m - is expected to begin from January 29 and run for about four weeks.
The acquisition is expected to strengthen Pleiderer's position in the North American laminate flooring market - and accelerate its move into the European market.
Pergo has a long history in the laminate flooring market, launching its products into Europe in the 1980s. Its products have been marketed under the Pergo brand since 1989 and under the SimpleSolutions brand since 2005.
Pfleiderer CEO Hans Overdiek said the deal would form “a leading player in the laminate flooring market”.
Pergo CEO Tony Sturru said Pfleiderer would “help leverage Pergo's brand and retail position by providing a superior technological and cost competitive manufacturing base”.
