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HS Timber Group strengthens its position in the Baltic States

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#1 Nov. 9, 2025 18:46:44

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HS Timber Group strengthens its position in the Baltic States

HS Timber Group strengthens its position in the Baltic States: takeover of the Latvian company Kurekss has been completed

The Austrian timber company HS Timber Group has announced the successful completion of the takeover of the Latvian company Kurekss SIA and its subsidiary Kurzemes Granulas SIA. The deal, announced in January 2025, will allow the Austrian group to strengthen its presence in the Baltic region.

Terms of the deal
Key aspects of the completed transaction:

AspectCondition
BrandsKurekss and Kurzemes Granulas will retain their names
GuideThe current management will continue to manage
IntegrationClose integration into HS Timber Group is planned.
Announcement of the dealJanuary 2025

About companies
Kurekss, founded in 1995, is one of the leaders of the Baltic sawmill industry and owns the production of fuel pellets Kurzemes Granulas. The company's supply geography covers:

• Europe
• North America
• Asia
• North Africa

Strategic importance
The takeover will allow HS Timber Group:

• Expand geographical presence
• Strengthen our position in the growing biofuels market
• Maintain successful business models of acquired companies
• Implement a strategy of minimal intervention

Maintaining the current leadership demonstrates a strategy of minimal interference in the successful business models of the acquired companies.

Development prospects
• Strengthening its position in the Baltic region
• Access to new sales markets
• Development of biofuel production
• Synergy with the group's existing assets

Tags: #HS_Timber_Group #Kurekss #takeover #Baltic #timber industry #biofuels
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