Mekonomen completes the acquisition of Nordic Forum Holding
In connection with Mekonomen's announcement of the agreement to acquire the automotive spare-parts distributors FTZ[1] and Inter-Team[2] from Hella[3], it was also announced that the holding company Nordic Forum Holding[4] could be acquired, as a separate transaction, at a later stage. Mekonomen has now completed the acquisition of Nordic Forum Holding from Hella. The acquisition is not of significant importance to Mekonomen.
The agreement between Mekonomen and Hella included, in addition to the acquisition of the companies FTZ and Inter-Team, that Mekonomen could, under certain conditions, acquire Nordic Forum Holding, the holding company of FTZ and Inter-Team. The acquisition of the holding company has been made in order to fulfill the agreement and is not of significant importance to Mekonomen.
Nordic Forum has no active operation after 2018 and will not be used in its former role as a holding company or commercial counterpart for its subsidiaries, the acquisition is only a practical consequence of the earlier acquisitions.
For further information, please contact:
Pehr Oscarson, President & CEO Mekonomen AB
Tel +46 (0)8-464 00 00, E-mail: pehr.oscarson@mekonomengroup.com
Åsa Källenius, CFO Mekonomen AB
Tel +46 (0)8-464 00 00, E-mail: asa.kallenius@mekonomengroup.com
Helena Effert, IRO Mekonomen AB
Tel +46 (0)8-464 00 00, E-mail: helena.effert@mekonomengroup.com
Mekonomen Group consists of the leading automotive spare-parts chains in the northern Europe; FTZ, Inter-Team, MECA, Mekonomen and Sørensen og Balchen, with proprietary wholesale operations, over 460 stores and 3,400 workshops operating under the Group brands. We offer a wide and easily accessible range of inexpensive and innovative solutions and products for consumers and companies.
[1] FTZ Autodele & Værktøj A/S (“FTZ”).
[2] INTER-TEAM Sp.z.o.o. (”Inter-Team”).
[3] HELLA Holding International GmbH (”HELLA”).
[4] Nordic Forum Holding A/S (“Nordic Forum Holding”). The subsidiaries Hellanor A/S and UCANDO GmbH are outside of the transaction perimeter.