Veka acquires German competitor to take turnover beyond €1bn
Burnley-based Veka Group has acquired German competitor GEALAN Holding GmbH. All European Monopolies and Mergers authorities involved in this process have approved of the takeover.By acquiring its competitor GEALAN – a company that is established and well-known on the European market for many years and one that has recently been implementing a differentiation strategy – the Veka Group is strengthening its competitive position in Germany, Europe and the world.
The family-owned VEKA Group is one of the world’s leading producers of PVC-U profile systems for windows, doors and roller shutters.The group employs more than 3,600 people at 25 subsidiaries on three continents around the world. It generated €793m in turnover in 2013.
Internationally, more than 2,200 specialised companies use Veka systems to create top-quality PVC-U structural elements. With its takeover of Gealan from financial investor Halder, the group will be increasing its staff once again, by 1,150 employees, and its total annual turnover will reach more than €1bn.The company said: "Whilst the acquisition of Gealan will not impact directly on The VEKA UK Group – it will continue to be business as usual in the UK - it is positive news for VEKA and Halo fabricators as it reinforces our group’s stability and vision for long term investment. "We believe this is fantastic news for customers of The Veka UK Group and indeed Veka users worldwide, as there is now one clear choice for fabricators and installers wishing to partner with a secure, stable profile manufacturer."