Byggmax implements new strategy in Finland – closes fours stores, and opens one new

Byggmax reorganize the store network in Finland to improve profitability and implement a new growth strategy. Byggmax will close the stores in Jyväskylä, Oulu, Pirkkala and Seinäjoki, and open a new store in Riihimäki. Due to the reorganization 11 employment relationships will be terminated. The new store in Riihimäki will employ five persons. Co-operation negotiations are still in progress at the store in Kangasala.

Byggmax will reorganize the store network in Finland, in order to improve profitability and implement a new expansion plan for the Finnish business. According to the finalized employee co-operation negotiations the stores in Oulu and Seinäjoki will be closed by the end of October, and the stores in Jyväskylä and Pirkkala by the end of November. A total of 11 employment relationships will be terminated. Co-operation negotiations are still in progress at the store in Kangasala.

In accordance with the new growth strategy Byggmax will also open new stores in strategic locations. The first new store will open in March 2018 in Riihimäki. The new store will employ five persons.

“We have a strong position with the Finnish consumer, and are committed to build a strong profitable business in Finland”, says Mattias Ankarberg, CEO of Byggmax Group. “The restructuring of the store network is an important step towards that goal. We are of course sad to let colleagues go, but to be able to invest in Finland we need to improve the business. We are also happy to announce the opening of a new store in Riihimäki, in a location that fits our strategic plan. Our long-term goal in Finland is still to create a store network of 20–25 stores”.

For further questions, please contact 

Mattias Ankarberg, CEO Byggmax Group
Mobile: +46 76119 09 85

About Byggmax Group

Byggmax Group consists of Byggmax, Skånska Byggvaror, and Buildor. For 2016, the Group’s net sales was SEK 5.2 billion. Byggmax Group is listed on Nasdaq since 2010.

Byggmax was founded in 1993 and currently operates 86 stores in Sweden, 34 in Norway and 13 in Finland and e-commerce in all three countries. Byggmax online offer consists of both the complete store assortment as well as an extensive range of online-exclusive products. Since the very beginning, Byggmax business concept has been discount DIY retailing, being the best price DIY retailer for consumers in need of high-quality construction materials. Byggmax stores are located close to the customers homes and are equipped with a drive-in system enabling easy shopping, including the loading of products directly onto the customers vehicles. During the past two years, Byggmax Group has acquired Skånska Byggvaror Group and Buildor AB. Skånska Byggvaror is a distance and e-commerce retailer of building projects and materials, with strong offers in e.g., conservatories and green houses. Skånska Byggvaror operates in Sweden, Norway, and Denmark, online and with 14 showroom stores. Buildor is a fast growing e-commerce retailer of home improvement products.