IFP Announces Agreement to Acquire Price and Pierce Forest Products Ltd.
International Forest Products LLC (“IFP”) is pleased to announce an agreement to acquire all of the equity of Price and Pierce Forest Products Ltd., subject to due diligence. Based in Woking, England, Price and Pierce is a major distributor of timber and panel products providing just-in-time service for UK merchants and retail groups. They are one of the oldest timber agency companies in the UK and play a powerful role in the marketing of Timber, Plywood and Panel Products from many countries including Russia, Latvia, Scandinavia, Germany, Belgium, Canada and Chile with new sources continuously being developed. Price and Pierce will operate as a division of IFP with the present management team remaining in place under the leadership of Stephen Pitt.
“We are excited about the acquisition of Price and Pierce and the addition of their team to the IFP family,” said Daniel Kraft, President and Chief Executive Officer of IFP. “This is another step in the further development of IFP’s Solid Wood Division and will provide new opportunity for future growth.”
Stephen Pitt, President of Price and Piece, added: “Being a part of IFP will give future certainty to the excellent employees of Price and Pierce and offer great opportunities for them as the Company approaches its 150 year anniversary.”
About International Forest Products
Founded in 1972 by Robert Kraft, IFP is a member of the Kraft Group of companies and is one of the largest traders of forest products commodities in the world. IFP provides solutions for sales and marketing, transportation and logistics, and finance for suppliers and converters.
About Price and Pierce
The current Price and Pierce is a result of a management buyout in 2000 which included all the timber business of the original Price and Pierce which was founded in 1869. In 2011, Eric Matthews LTD, a long established panel products agent and distributor was purchased and integrated into Price and Pierce.
Source: International Forest Products, LLC