Kesko has completed the acquisition of Fresks Group in Sweden
Kesko Group company K-rauta AB has completed the acquisition of Fresks Group from Litorina, Oscarson Invest and the group’s management. Fresks Group is a significant operator in the Swedish builders’ merchant business and the biggest member of the XL Bygg chain. The acquisition will significantly strengthen Kesko’s market position in Sweden, especially in the growing professional builders customer segment.
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.
Jorma Rauhala, President of the building and technical trade division, Deputy to President and CEO of Kesko Corporation, tel. +358 105 322 211, email@example.com
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