Paged finalizes Forbis takeover

WSE-listed furniture maker Paged, has acquired 70 percent stake in interior design firm Forbis Group for PLN 8.4 million. Paged will additionally pay PLN 3.6 million if the acquired firm reaches performance benchmarks. The initial agreement was signed back in August last year. Forbis’ value was estimated at PLN 17.2 million. Paged Group comprises of six companies active in wood processing, furniture, real estate sectors among others. It has been listed on the Warsaw Stock Exchange since 1996. In 2015, the company had PLN 821 million consolidated income from sales. Forbis specializes in stores and offices segment as well as fit-out solutions.