The acquisition is part of Unilin Group's strategic growth ambitions and allows its Unilin Panels division to better serve the French market.
Panneaux de Corrèze produces approximately 150,000m3 of raw MDF panels. Its production plant is located in Corrèze, in the centre of France, and has 110 employees. The company is the MDF market leader in France and is known for its excellent quality MDF panels, strong brands and sustainability innovations. The acquisition will be completed early this month.
The panel division of Unilin Group, Unilin Panels, is a European market leader. It has one other MDF panels production plant in France in Bazeilles. This acquisition will increase the company's MDF panels production capacity and strengthen its position in France. This will allow Unilin Panels to offer the most innovative and complete range of MDF products of the best quality to the French market and to serve this market even faster and better.
All Panneaux de Corrèze employees will be joining the Unilin Group and the existing structures are maintained. The current Panneaux de Corrèze management will stay in place to help steer the integration in the right direction.
“Unilin Panels aims to achieve 25% growth by 202, said Veronique Hoflack, president of Unilin Panel. “We want to become the market leader in Belgium, the Netherlands and France. With the acquisition of Panneaux de Corrèze, we will offer our customers in France an even wider range of new product innovations and will improve our service even further. It allows us to do our bit to ensure a stronger and more sustainable future for our own employees and for all our customers in the French interior design and construction industry."
"Our company was looking for a strong industrial and commercial partner to continue our growth,” said Philippe Mocaer, president of Panneaux de Corrèze. “Unilin Group is a dynamic company, with a lot of know-how, that is willing to invest in innovation. The integration of Panneaux de Corrèze into Unilin Group will allow us to develop our offer both qualitatively and quantitatively. We are therefore delighted to join forces with Unilin Group to better serve the market."
“Panneaux de Corrèze has a particularly strong team,” said Bernard Thiers, CEO of Unilin Group. “I am delighted that we can welcome just over 100 new colleagues to our group. We are determined to strengthen our position in France. This agreement and our joint commitment to share our knowledge and expertise with each other are important steps forward in this regard."
