The Competition Council intervenes in Kingspan's acquisition of TreeTops

Chairman of the Competition Council, Christian Schultz, says:

Kingspan's subsidiary, Troldtekt, is currently the largest player in the market for wood wool ceiling tiles, and TreeTops has so far been one of Troldtekt's main competitors in this area. Together, the two companies have a very large share of the wood wool ceiling tiles market, and it has therefore been necessary to ensure that competition in this market is not harmed as a result of the merger.

Kingspan has committed to divest TreeTops' business in wood wool ceiling tiles. At the same time, our investigations have shown that after the divestment, there will still be competition to Kingspan's wood wool ceiling tiles. Therefore, we assess that the merger does not impede competition and approve it subject to the commitment.

The Competition Council has approved Kingspan's acquisition of TreeTops Holding ApS. The approval comes after Kingspan has provided binding commitments to divest TreeTops' business in wood wool ceiling tiles. Kingspan already owns Troldtekt, which holds a significant market share in the sale of wood wool ceiling tiles. The Competition Council had preliminary competition concerns regarding whether the merger without the commitment would lead to price increases and limit the range of products in this particular market.

In connection with the approval of the merger, the Competition Council has approved Depo Holding as the buyer of the divested business. Depo Holding is operated by a former co-owner of TreeTops. The activities that Depo Holding will acquire include supplier and customer agreements and the right to use the FibroTech brand for wood wool ceiling tiles for ten years.

Kingspan is a subsidiary of the Kingspan Group, which operates globally in the construction industry. Kingspan Group primarily manufactures insulated panels, insulation boards, ceiling tiles (including wood wool), light and air solutions, water and energy solutions, data and flooring technology, as well as roofing and waterproofing solutions.

TreeTops is a Danish company that sells wood wool ceiling tiles, wood panels for wall cladding, profiles for suspended ceilings, composite exterior cladding, and composite terrace decking. TreeTops markets its products under the brand names FibroTech and Kirkedal.

Read the decision (in Danish).

For further information

Contact the Head of Communications at the Competition and Consumer Authority, Hanne Arentoft, at +45 41 71 50 98.