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Kesko Corporation's subsidiary Byggmakker Handel AS has agreed to purchase Gipling AS, a Norwegian operator in the building and home improvement trade and the largest Byggmakker retailer. In 2017, Gipling's net sales reached approximately EUR 151 mio. With the acquisition of Skattum Handel AS, announced earlier in June, the Byggmakker chain will now have control over 30 Byggmakker stores. Gipling AS operates 19 Byggmakker stores and employs some 540 professionals around the Trondheim area.
"We have now acquired the two largest Byggmakker retailers to secure significant volume for the Byggmakker chain in Norway. The acquisitions of both Skattum Handel and now Gipling strengthen our possibilities for further growth and profitability in Northern Europe. The transaction price of the acquired companies, including financial liabilities, is some EUR 147 mio. In 2017, the companies' combined net sales totalled EUR 245 mio and EBITDA EUR 11.5 mio," says Jorma Rauhala, President of Kesko's building and technical trade division and deputy to Kesko's president and CEO.
"We have now acquired the two largest Byggmakker retailers to secure significant volume for the Byggmakker chain in Norway. The acquisitions of both Skattum Handel and now Gipling strengthen our possibilities for further growth and profitability in Northern Europe. The transaction price of the acquired companies, including financial liabilities, is some EUR 147 mio. In 2017, the companies' combined net sales totalled EUR 245 mio and EBITDA EUR 11.5 mio," says Jorma Rauhala, President of Kesko's building and technical trade division and deputy to Kesko's president and CEO.
