Premier Forest Group Declared Sale of its Irish Subsidiary

SEATTLE (Scrap Monster): Premier Forest Group announced sale of Premier Forest ROI Ltd- the Irish subsidiary to Northern Ireland headquartered Murdock Builders Merchants for a significant, but undisclosed sum. The transaction is subject to regulatory approvals, including approval of the Competition and Consumer Protection Commission (CCPC). It is expected to close by the end of next month.

The Irish subsidiary operates eight strategic sites, comprising Brooks Timber and Building Supplies and Dublin Plywood and Veneer (DPV), acquired by it in 2012 and 2013 respectively. The subsidiary has been recording sequential growth in profit and turnover over the past nine years in a row. The company had reported excellent results in 2020/21 financial year. Also, it predicts strong increase in turnover for 2021/22 as well.

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Terry Edgell, CEO and co-founder of Premier Forest Group said the sale of the subsidiary has been on its radar for almost a year now. The handing over of reins to the Irish company would steer the business through next phase of growth. The positive step will allow Premier Forest Group to consolidate its position by driving growth in the UK through investment and further acquisitions, he added.

Edgell also thanked the Irish management team and staff for their hard work over the past nine years and wished them success for the future.