05/15/2019 | Press release | Distributed by Public on 05/15/2019 06:20
Kesko Corporation has completed the divestment of Onninen AB's HEPAC business segment to Solar A/S. The transaction allows Kesko to focus on building-related B2C and B2B trade and the infrastructure business in technical trade in Sweden.
The transaction comprises Onninen AB's HEPAC business segment, which serves mostly SME contractor clients in Sweden. The segment employs some 80 professionals in Sweden, who will transfer to the buyer.
The net sales of the divested HEPAC business segment in Sweden totalled €70 million in 2018.
On 12 March 2019, Kesko Corporation announced in a press release that it intends to accelerate the turnaround in Sweden by divesting Onninen's HEPAC business segment and fully focusing on Onninen's infrastructure business. The Swedish Competition Authority announced on 8 April 2019 that it approved 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 protected]
Media: Jessica Diktonius, Director, Communications, K Group's building and technical trade, +358 40 709 9176, [email protected]
Analysts: Kia Aejmelaeus, Vice President, Investor Relations, tel. +358 105 322 533, [email protected]
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