Greenlam Industries Ltd, a leading provider of decorative surfacing solutions, has announced the acquisition of Decolan SA, a distribution company, based in Europe, 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 is expected to further strengthen Greenlam’s position in the HPL and compact panels market in Europe. The acquisition will see Greenlam benefit from being able to offer expanded product line to the customers as well as a better distribution control with on the ground inventory, thereby guaranteeing customers faster deliveries and a better service.
“This strategic business deal marks the first European 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,” said Saurabh Mittal, managing director and CEO, Greenlam Industries Ltd, on the acquisition. He added, “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.”
As a surfacing solution brand, Greenlam offers end to end surfacing solutions spread across laminates, compacts, veneers, engineered wooden floors and engineered wooden doors to choose from. “We are excited as we continue to add dimension to our surfacing solutions business by bringing forward great new designs, enhanced marketing materials & highly developed field professionals,” averred Bansal.
Post the acquisition, Decolan SA will be managed as a subsidiary of Greenlam Asia Pacific which is a wholly-owned subsidiary of Greenlam Industries Limited. The existing Decolan’s team and management will be a part of Greenlam Decolan SA which will allow strengthening relations with customers and suppliers in the European markets.