The acquisition of Bygg & Interiör stores complements Kesko’s growing K-Bygg chain for professional builders in the Mälaren Valley region of Sweden.
Kesko will obtain Fresks Group, which operates 33 stores with a strong market position in Sweden and employs approximately 500 people, who mainly serve professional small and medium-sized renovation companies.
The pro forma net sales of Fresks Group totalled €205 million and the comparable pro forma EBITDA €18 million in 2018.The purchase price of the acquisition expressed on a debt and cash free basis is some €200 million.
Kesko Corporation announced its intention to acquire Fresks Group in a press release published on 29 March 2019. The Swedish competition authorities announced on 3 May 2019 that they approve the transaction. The approval was not subject to any conditions.
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