Bergs’s subsidiary, Performance Timber Products Group (PTPG), acquired all shares in the English company P&P Holdings Limited (P&P) with annual sales of approximately GBP 7 million ($9.6 million).
PTPG is one of the UK's leading players in the premium segment of wooden windows and doors and was acquired by Bergs in June 2021. PTPG is now moving forward in its expansion plans and acquiring P&P, which sells, distributes and installs windows and doors in Surrey and South West London. The companies have been working closely together for several years, where P&P sells windows and doors under the name Timber Windows, which is PTPG's network of showrooms for retail sales.
The closing took place on 13 January 2022. The acquisition is expected to have a marginal impact on Bergs’s earnings per share.
The Bergs Group consists of independent subsidiaries that develop, produce and market processed wood for various applications.