The acquisition is part of Unilin Group's strategic growth ambitions and allows its Unilin Panels division to better serve the French market. Panneaux de Corrèze produces approximately 150,000m3 of raw MDF panels from its production plant located in Corrèze, in the centre of France.

The acquisition will be completed by early November.

The panel division of Unilin Group, Unilin Panels, has one other MDF panels production plant in France – in Bazeilles.

The acquisition also fits perfectly within Unilin Group's sustainability strategy. Thanks to its new Next panel range, Panneaux de Corrèze has a great deal of expertise on reducing the use of fossil raw materials to manufacture its panels.

All Panneaux de Corrèze employees will be joining the Unilin Group and the existing structures are maintained. The current Panneaux de Corrèze management will stay in place to help steer the integration in the right direction.

“Unilin Panels aims to achieve 25% growth by 2025,” said Veronique Hoflack, president of Unilin Panels.

“We want to become the market leader in Belgium, the Netherlands and France. With the acquisition of Panneaux de Corrèze, we will offer our customers in France an even wider range of new product innovations and will improve our service even further. It allows us to do our bit to ensure a stronger and more sustainable future for our own employees and for all our customers in the French interior design and construction industry."

Philippe Mocaer, president of Panneaux de Corrèze, said the company has been looking for a strong industrial and commercial partner to continue its growth.

“Unilin Group is a dynamic company, with a lot of know-how, that is willing to invest in innovation,” he said.

“The integration of Panneaux de Corrèze into Unilin Group will allow us to develop our offer both qualitatively and quantitatively. We are therefore delighted to join forces with Unilin Group to better serve the market."