MUNICH: Mutares SE & Co. has received a put option for the sale of Norsilk to Protac, part of Groupe Rose, a news release said.

If this option is accepted after the opinion of the works council, the closing of the transaction could occur during the third quarter of 2021.

Norsilk was acquired from the Finnish Metsä Group in 2015 and integrated into the Donges Group in 2019 after a successful restructuring. Specializing in wood paneling and wood products for interior and exterior applications, Norsilk serves customers in the industrial, construction and DIY sectors.

The company employs around 100 people at its sites in Bouleville and Honfleur, France, and expects revenues of over EUR 50 million in 2021. Protac, a French company belonging to Groupe Rose, is active in the processing of wood for residential construction as well as exterior and interior applications and is therefore positioned as an optimal strategic buyer for Norsilk.

The integration of Norsilk’s product portfolio will create material synergy effects that will lead to significant added value for both companies and their employees.

Johannes Laumann, CIO of Mutares, comments: “We are delighted to have received a put option from Protac, who would be a great new owner for Norsilk. The combined companies would have the opportunity to position themselves as a leading wood product supplier in the French market and to accelerate their successful growth strategy.”