Kesko Corporation's subsidiary Byggmakker has completed the acquisition of the DIY retail business of Sørbø Trelast AS and Tau & Jørpeland Bygg AS. The acquisition comprises two Byggmakker stores and a B2B logistics centre in Norway.
The transaction comprises the Byggmakker Sørbø Trelast store and B2B logistics centre, both located in Stavanger, and the Byggmakker Strand store located in Jørpeland. The house building business is not included in the transaction. The Sørbø retailer group employs close to 100 professionals around the Stavanger area.
The businesses acquired had total pro forma sales of approximately €24 million and pro forma EBITDA of €2.1 million in 2017. The parties have agreed that the transaction price will not be disclosed.
On 29 October 2018, Kesko Corporation announced in a press release that it would acquire the DIY retail business of the Sørbø retailer group. The Norwegian Competition Authority announced on 15 November 2018 that it approved the acquisition. The approval was not subject to any conditions.
Jorma Rauhala, President of the building and technical trade division, Deputy to President and CEO of Kesko Corporation, tel. +358 105 322 211, email@example.com
Jessica Diktonius, Director, Communications, K Group's building and technical trade, +358 40 709 9176, firstname.lastname@example.org
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