Altarea acquires 100% Woodeum, wood specialist

"Already a shareholder of Woodeum with 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-rise residential real estate. solid wood carbon," the group said in a statement.

The amount of the transaction has not been released.

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 wooden construction, employs 80 people and claims 3.000 housing units under development in France.

Very present in Ile-de-France, it also delivered, in tandem with Eiffage, the Hyperion tower in Bordeaux.

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, these regulations favor biosourced materials (of animal or plant origin) such as wood, which emit less greenhouse gases than concrete.

Altarea wants Woodeum to extend its presence to the whole of French territory, and sets a "term" objective of 2.000 housing units produced per year, i.e. "by 2026", said a spokesperson for the group.

"As with all its brands, Altarea will be a veritable incubator for Woodeum that will enable it to accelerate its development. This operation demonstrates our ambition to develop low-carbon real estate and thus meet the expectations of regions and inhabitants alike", says the CEO of Altarea, Jacques Ehrmann, quoted in the press release.