Altarea, the second French property developer, announced on Tuesday that it had acquired 100% Woodeum, a specialist in the construction of wooden buildings, of which it had held 50% since 2019.
Already a shareholder of Woodeum up to 50% of the capital since July 2019, Altarea announces that it has today acquired the balance of the capital of Woodeum from WO2 Holding, and thus becomes the sole shareholder of the leading brand in France of low-carbon residential real estate in solid wood, says the group in a press release. The amount of the transaction was not disclosed.
In 2019, when Altarea acquired 50% of the shares of Woodeum, it paid around 100 million euros. Created in 2014, Woodeum, a developer specializing in wood construction, employs 80 people and claims 3,000 housing units under development in France.
tender Woodeum throughout France
Very present in Ile-de-France, it also delivered, in tandem with Eiffage, the Hyperion Bordeaux tower. Woodeum will benefit from increased financial resources, promises Altarea, which intends to anticipate the next thresholds of the RE2020 environmental regulations on new construction.
Coming into force at the start of 2022, this regulation favors bio-sourced materials (of animal or vegetable origin) such as wood, which emit less greenhouse gases than concrete.
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Altarea wants Woodeum to extend its presence to the whole of French territory, and sets a long-term objective of 2,000 housing units produced per year, i.e. by 2026, said a spokesperson for the group.
As with all of its brands, Altarea will be a veritable incubator for Woodeum, enabling it to accelerate its development. This operation bears witness to our ambition to develop low-carbon real estate and thus meet the expectations of regions and residents alike, says Altarea’s CEO, Jacques Ehrmann, quoted in the press release.