The VEKA Group has completed the acquisition of German competitor GEALAN Holding GmbH. All European Monopolies and Mergers authorities involved in this process have approved of the takeover.
By acquiring its competitor GEALAN, the VEKA Group aims to strengthen its competitive position in Germany, Europe, and the World.
The family-owned VEKA Group, which is one of the world’s leading producers of PVC-U profile systems for windows, doors and roller shutters, employs more than 3,600 people at 25 subsidiaries on three continents around the world. 1,300 of them work at the company’s headquarters in Sendenhorst. The VEKA Group generated €793 million in turnover in 2013. With its takeover of GEALAN Holding GmbH from financial investor Halder, the Group will be increasing its staff once again, by 1,150 employees, and its total annual turnover will reach more than €1 billion.
Whilst the acquisition of GEALAN will not impact directly on the VEKA UK Group, it is described as ‘positive news’ for VEKA and Halo fabricators, as it reinforces the Group’s ‘stability and vision for long term investment’.
