Tokmanni Group has sold and leased back the Moreeni logistics centre after completing its construction
Tokmanni Press release 18 November 2023 at 12:00 p.m.
With an agreement signed on 8 December 2023, the Tokmanni Group sold its Moreeni logistics centre, which was completed in November in Mäntsälä in Finland to the real estate investment and development company NREP Oy. Tokmanni also became a long-term tenant in the building under a lease agreement signed on 15 December 2023.
The recent agreements are based on a project agreement signed by the parties in 2021. According to the project agreement, Tokmanni Group has sold the Moreeni logistics centre after completing its construction and has leased the premises back under a 20-year lease. Moreeni’s unencumbered sales price was approximately EUR 56 million.
The Moreeni logistics centre is located by the Lahti motorway in Mäntsälä, right next to the Tokmanni Group’s administrative and logistics centre that was completed in 2008.
“The spacious and modern Moreeni logistics centre is designed to meet our current and future needs, including the expansion of our store network and product range,” says Harri Koponen, the Vice President in charge of the Moreeni project at Tokmanni.
“The Moreeni logistics centre has the potential for significant expansion in the future, if necessary. Centralising logistics operations in two efficient logistics centres in Mäntsälä will significantly increase the cost-effectiveness of Tokmanni’s logistics,” he adds.
More information on the Moreeni logistics centre and its impact on Tokmanni Group’s business can be found in the press release published by the company on 30 November 2023.
TOKMANNI
For further information, please contact:
Harri Koponen
Vice President, Store Network and Concept
Tel. +358 20 728 6030
harri.koponen(at)tokmanni.fi
Maarit Mikkonen
Head of IR and Communications
Tel. +358 40 562 2282
maarit.mikkonen(at)tokmanni.fi
Calls to a corporate number beginning with +358 20 7 from a landline or a mobile phone are EUR 0.0835 per minute + EUR 0.1669 per minute (incl. VAT 24%). Calls from outside Finland are subject to an international call charge.
Tokmanni Group Corporation is one of the leading variety discount retailers in the Nordics. Around 5,400 employees in Finland, Sweden and Denmark make customers’ everyday life and special occasions easier by offering a versatile and up-to-date assortment of nordic and international brand-name products and other high-quality products at prices that are always affordable. With more than 370 Tokmanni, Dollarstore, Big Dollar, Miny, Click Shoes and Shoe House stores and online stores, the Group is always close to its customers. In 2022, Tokmanni Group Corporation's revenue was EUR 1,168 million and comparable EBIT amounted to EUR 86 million. The Group's shares are listed on Nasdaq Helsinki.
