Kährs Group has divested its Russian operations

Kährs Group (Kährs) today announces the divestment of its previously isolated business unit and asset operating in Russia. With the divestment, Kährs concludes the previously announced intention to leave the country and has no further ties or connections to Russia, either directly or indirectly.

"Since Russia’s attack on Ukraine, we have been seeking to leave the country in a way responsible towards our company during challenging market conditions, and towards our local employees in Russia. Following an immediate freeze of all financial flows and an isolation of the Russian market, we have now completed a lengthy and complicated regulatory process to sell the operations”, says Johan Magnusson, CEO of Kährs Group.

The divestment is approved by both the Russian authorities and the National Board of Trade in Sweden and was closed today. 
 

For further information, please contact:
Johan Magnusson, President and CEO, Kährs Holding AB (publ), Phone: +46 70 540 13 96 
johan.magnusson@kahrs.com

Andreas Larsson, CFO, Kährs Holding AB (publ), Phone: +46 70 242 03 65 
andreas.larsson@kahrs.com  
 

About Kährs Group
Kährs Group is a leading manufacturer and distributor of flooring with the aim of providing customer experiences beyond expectations. Kährs’ innovations have shaped the industry throughout its history and the company is dedicated to offering flooring solutions for every room, environment and need. The company delivers sustainable and durable flooring solutions to approx. 70 countries, being a market leader in hardwood flooring in Sweden and Finland and having strong positions in other key markets, such as Norway, the UK, US, Germany, and Switzerland. The Group has 1,067 employees and annual sales of SEK 2,5 billion. www.kahrsgroup.com