IFP Signs Agreement to Acquire Price and Pierce Forest Products

SEATTLE (Scrap Monster): International Forest Products (IFP), a leader in international forest products trade, has announced that it has reached an agreement to acquire all of the equity of the Woking, England-based Price and Pierce Forest Products Ltd. The acquisition is subject to due diligence, the company press release stated.

According to IFP, the present management team under the leadership of Stephen Pitt will continue to remain. Price and Pierce will henceforth operate as a division of the company, it noted. Incidentally, Price and Pierce is a major distributor of timber and panel products. They are a leading marketer of Timber, Plywood and Panel products from a number of countries including Russia, Latvia, Scandinavia, Germany, Belgium, Canada and Chile. IFP is one of the oldest timber agency companies in the U.K.

Commenting on the acquisition, Daniel Kraft, President and Chief Executive Officer of IFP said that the company is excited about the decision, which will add highly talented Price and Pierce team to the IFP family. This will further help the development of IFP’s Solid Wood Division and will provide additional growth opportunities to the company, he added. Meantime, Stephen Pitt, President of Price and Piece noted that the deal will offer future certainty to its employees and exciting opportunities to work with.

Recently, the Foxborough, Massachusetts-headquartered IFP had held its annual meeting of the Solid Wood Products division. The meeting, attended by top management and sales representatives from around the world, had announced goals and plans of action for the next twelve months.