Latvia Approves HS Timber Group’s Acquisition of Kurekss

Latvia’s Competition Council (KP) has approved the acquisition of sawn timber producer SIA Kurekss by Nextwood One, a company belonging to Austria’s HS Timber Group, LSM reported (10-24-25).

HS Timber first announced plans to acquire Kurekss in January. Nextwood One GmbH is a holding company registered in Austria and indirectly owned by HS Timber, which is controlled by the private investment fund Evergreen Privatstiftung.

HS Timber operates production facilities in Austria, Germany, Romania, Finland, and Argentina, employing more than 2,700 people and serving customers in 80 countries. The group already owns the Latvian wood processing company SIA Vika Wood.

Kurekss manufactures and exports sawn timber from its facility in the Ventspils region. It also fully owns Kurzemes Granulas, a producer and seller of wood pellets.