Having already been agreed in principle in mid-2020, Saint-Gobain completed its acquisition of the majority shareholding in the Brüggemann group, active in the timber-construction sector, in mid-March. The transaction, registered as an asset deal through Saint-Gobain Beteiligungen, had been approved by the Federal Cartel Office previously at the beginning of September 2020. Saint-Gobain described the more than six months between approval and closing as a usual timeframe.
According to a release from the group on 16 March, Tobias Brüggemann remains a minority shareholder in the company and, along with Petra Röder, will continue to be a member of the management of the company, which was renamed Saint-Gobain Brüggemann Holzbau when the partnership shares changed. Saint-Gobain Brüggemann Holzbau had already been entered in the Commercial Register in July last year, followed by the recording of a profit and loss pooling agreement with Saint-Gobain Beteiligungen at the beginning of March.
