HS Timber Group takes over Vika Wood SIA from Bergs Timber AB

Posted on January 9, 2025   |  

HS Timber Group from Austria plans to buy all shares of Vika Wood SIA from Sweden’s Bergs Timber AB.

The deal is waiting for approval and is expected to finish by early 2025.

Vika Wood runs a sawmill near Talsi in Latvia and is known for its high-quality products under the Vika brand.

Both companies have decided to keep the details of the deal private. 

Vika Wood’s brand, management, and operations will stay the same.

Vika Wood produces up to 300,000m³ of kiln-dried timber every year and employs about 140 people, making it one of the most efficient sawmills in the Baltic area.

The company focuses on coniferous timber and sells its products to more than 30 countries.