COLOMBIA – On 23 November, the purchase of Practimac, Maderkit’s furniture business unit, was completed. With this acquisition Maderkit becomes Colombia’s largest ready-to-assemble furniture manufacturer (RTA).

Although the amount negociated was not disclosed by the parties, it includes the assets, distinctive signs, patents and other elements of intellectual and industrial property. The new company, which will start operations on January 2, 2017, will be called Practimac SAS and will continue its operation in the location of Guarne, Antioquia owned by Tablemac.

Juan José Plaza, General Director of Maderkit referred to the acquisition, “We hope as a result of this operation to achieve significant synergies and combine the best practices of both companies.” And added, “With this purchase, the two companies combined, Maderkit S.A. and Practimac SAS, becomes the largest ready-to-assemble furniture manufacturer in Colombia. The objective of this operation is to increase the joint presence in the Colombian market and to increase the participation in the target export markets, especially in Mexico, Peru and Chile.”

Juan Fernando Vásquez, General Manager of Tablemac explained the reasons behind the sale, “Duratex, as the owner of Tablemac, strategically decided to concentrate on the wood board business and therefore opted to leave the furniture business. In addition to this we did not want to compete with our panels customers that produce furniture”.

Main Colombian RTA Manufacturers by Sales

COP Million