Borg to become Faroe Islands’ largest timber merchant after acquisition

The Faroese company Borg has agreed to purchase Sandavágur Timber Trade, pending approval from the Competition Authority, Kringvarp Føroya reports.

If approved, the deal will make Borg the largest timber merchant in the Faroe Islands. Combined, Borg and Sandavágur Timber Trade employed 114 people last year—significantly more than the largest competitor, Bygma Balslev, which had 80 employees.

Borg has expanded steadily in recent years. Founded in 2007 through the merger of Højgaards Handilsvirki, Klaksvík Timber Trade, and Klement Petersen, the company later acquired Tórshavn Timber Trade in 2018. The purchase of Sandavágur Timber Trade marks its latest expansion.

Rodmundur Nielsen, CEO of Borg, declined to comment on the deal, stating that not all documents had been finalised.