HS Timber Group to Purchase Vika Wood From Bergs Timber

On Thursday, Austria-based HS Timber Group announced an agreement to acquire 100% of the shares in Latvian wood processing company Vika Wood SIA from Swedish owner Bergs Timber AB. The deal is still subject to approval from the competition authority, with the transaction expected to close within Q1.

The sawmill, whose high-quality products are recognized internationally under the Vika brand, is located near Talsi in Western Latvia. Both parties have agreed to treat the terms of the transaction confidentially. Brand, management, and business activities of Vika Wood will remain unchanged.

With an annual production capacity of 300,000 m³ of kiln dried sawn timber and a workforce of around 140 employees, Vika Wood is one of the most efficient sawmills in the Baltic region and an important employer in the region. Founded in 1995, the mill processes locally sourced softwood logs from sustainably managed forests, making it a valuable addition to HS Timber Group’s portfolio of products and markets.

In a statement prepared for the announcement, Jürgen Bergner, CEO of HS Timber Group, said:

“This acquisition aligns seamlessly with our strategy to strengthen our operations and grow sustainably. By having access to high-quality raw materials and entering the attractive Baltic market, we can serve our customers even better.”