Greenlam Industries Ltd. a leading provider of decorative surfacing solutions such as HPL, Compacts, Decorative Veneers, Doors and Engineered Wooden Flooring announced the acquisition of Europe based leading supplier of decorative surfaces Decolan SA. Decolan is a Europe based distribution company which has been the leading supplier of imported HPL and other decorative surfaces for over 20 years.
The acquisition is expected to be completed in the first quarter of FY’20 and will further strengthen Greenlam’s position in the HPL and Compact panels market in Europe. With this takeover, Greenlam will benefit from being able to offer expanded product line to the customers as well as a better distribution control with on ground inventory guaranteeing customers faster deliveries and better service. Being the largest producer of Laminates in Asia and among the top 3 in the world, Greenlam Industries is a global brand with a presence in over 100 countries.
Speaking on the acquisition, Mr. Saurabh Mittal, Managing Director, and CEO, Greenlam Industries Ltd. said, “This strategic business deal marks the 1st European acquisition by Greenlam and will allow Greenlam to serve the European market with greater business efficiency. While the acquisition will amplify the company’s presence in Central Europe, the deal also marks the beginning of Greenlam’s next phase of growth and expansion in the European markets. With this acquisition, we expect our on-ground product inventories to increase by three times which will help in increasing our revenues to 10 million Euros in this region in the next three years. We are excited as we continue to add dimension to our Surfacing solutions business by bringing forward great new designs, enhanced marketing materials & highly developed field professionals.”
Post the acquisition, Decolan SA is going to be managed as a subsidiary of Greenlam Asia Pacific which is a wholly-owned subsidiary of Greenlam Industries Limited. The existing Decolan’s team and management will be a part of GreenlamDecolan SA which will allow to further strengthen relations with customers and suppliers in the European markets.