Greenlam acquires European distribution firm

To ensure better access of its offerings in the European market, Greenlam Industries -. a leading provider of decorative surfacing solutions such as HPL, Compacts, Decorative Veneers, Doors and Engineered Wooden Flooring – has acquired 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. Speaking on the acquisition, Saurabh Mittal, Managing Director and CEO, Greenlam Industries said, “This strategic business deal marks the 1stEuropean 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.”

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