In Denmark, energy utility Verdo A/S has announced that it has completed the acquisition of compatriot wood pellet importer and distributor Ole Tietze ApS located in the Port of Næstved in southwest Zealand strengthing its position on the Danish pellets market."We have been looking for a strategic acquisition so that we can grow in the Zealand market, and we have succeeded in acquiring the activities in Ole Tietze ApS," said Thomas Bornerup, Director Trading at Verdo.
Ole Tietze ApS has developed into one of Zealand’s largest wood pellet importers and distributors. The acquisition, the value of which has not been disclosed, takes effect from January 1, 2019.
We have been looking for a strategic acquisition so that we can grow in the Zealand market, and we have succeeded in acquiring the activities in Ole Tietze ApS. The company has been following the development of the market in recent years, and we want to continue the existing healthy business and strengthen our position in the Danish wood pellet market, said Thomas Bornerup.
Founder Ole Tietze will remain as General Manager of the wood pellet company, which he has run for more than 25 years.
I’m about to reach an age where I have to consider what will happen to my business. That’s why I’m glad that the company has become future-proofed at Verdo, and I look forward to sharing my knowledge and experience with Verdo in the coming years, said Ole Tietze.