Kesko and Oriola can, according to the decision of the Competition and Consumer Authority, establish a new chain of stores that offer comprehensive wellbeing. The plan is to expand the business to include pharmaceuticals if the legislation is amended.
The concept behind the new chain will be presented in more detail at a later date. In the first phase, the aim is to build a chain of 100 stores and an online store. The first stores of comprehensive wellbeing will be opened in the autumn of 2017 – the target is to open a total of 15 stores by the end of the year. An estimated 1,000 new jobs will be created in Finland by the new chain.
The objective is to finalise the establishment of the joint venture soon. Both parties will own 50 per cent of the new company.
Kesko and Oriola announced the joint venture with a stock exchange release on 13 March 2017. The future company’s management group will be that which was named during the spring.
Karoliina Partanen, Vice President, Communications, Kesko grocery trade, +358 40 584 5298
Leena Lahti, Communications Manager, Oriola, +358 50 367 3304
Kesko and K-retailers form K Group, whose sales total over €13 billion. K Group is the third largest retail operator in Northern Europe and it employs approximately 45,000 people. Kesko operates in the grocery trade, the building and technical trade and the car trade. Its divisions and chains act in close cooperation with retailer entrepreneurs and other partners. Kesko's net sales are €10 billion and it employs approximately 30,000 people. Kesko has over 2,000 stores engaged in chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Russia, Belarus and Poland. Kesko is a listed company and its shares are listed on Nasdaq Helsinki. The company's domicile and main business premises are in Helsinki. Kesko is the world's most responsible trading sector company (The Global 100 Most Sustainable Corporations in the World). www.kesko.fi
Oriola is a Finnish listed retail and wholesale company that distributes pharmaceuticals and health and wellbeing products. Oriola has a strong position in the pharmaceuticals market in Sweden, Finland and the Baltics. We promote people's wellbeing by ensuring safe and efficient distribution of pharmaceuticals and healthcare consumer products and services to our customers. Oriola's net sales are €1.6 billion, the company has 2,821 employees and 325 pharmacies in Sweden and Latvia. The company is headquartered in Espoo. www.oriola.com