Kesko’s 2023 Annual Report has been published
Kesko continues the implementation of its growth strategy in Sweden by acquiring Bygg & Interiör stores for professional builders
The acquisition of Bygg & Interiör stores complements Kesko’s growing K-Bygg chain for professional builders in the Mälaren Valley region of Sweden.
Kesko has today acquired the Swedish Bygg & Interiör building and home improvement trade companies from Katrineholm Fastighets AB. Kesko will obtain three stores that currently operate in Katrineholm, Flen and Vingåker under the Woody brand. The companies employ some 50 people and serve mainly B2B customers. The acquired operations recorded net sales of €13.9 million and an EBITDA of €0.9 million in the last financial year. The parties do not disclose the transaction price.
Kesko’s strategic objective in the building and technical trade division is to improve profitability and strengthen its market position in Northern Europe. In Sweden, the division comprises the K-Rauta and K-Bygg building and home improvement store chains, and Onninen’s technical wholesale operations, which focus on the growing infrastructure construction business. K-Rauta’s 17 stores and online store serve primarily consumers, while K-Bygg’s 34 stores serve the growing professional builder segment. The acquired operations will become part of K-Bygg.
“Bygg & Interiör complements excellently our building and home improvement trade operations and further strengthens our market position in Sweden, where we have been able to significantly improve our profitability. We will continue to develop building and home improvement trade and technical wholesale in Sweden, which is an important growth area for us also going forward,” says Jorma Rauhala, President of the building and technical trade division and Deputy to Kesko’s President and CEO.
K Group is one of the leading operators in Northern European building and technical trade with operations in eight countries. In 2019, the building and technical trade division’s pro forma retail sales in Northern Europe totalled €4.9 billion. Kesko’s pro forma retail sales in Sweden totalled €477 million in 2019.
Further information:
Jorma Rauhala, President of building and technical trade division, Deputy to President and CEO, tel. +358 105 322 211, jorma.rauhala@kesko.fi
Jukka Erlund, Executive Vice President, Chief Financial Officer, tel. +358 105 322 113, jukka.erlund@kesko.fi
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