Facilitating consolidation in the Nordic DIY market
Byggmakker Handel AS, Kesko’s Norwegian building and home improvement chain, has acquired Carlsen Fritzøe Handel AS, strengthening Kesko’s position in one of the most attractive areas of Norway, the Oslo fjord region.
Kesko Corporation is one of the leading DIY players in Northern Europe, with operations in eight countries. In 2019, its building and technical trade division’s pro forma retail sales totalled over US$6 billion. In Norway, the division manages 18 Onninen and 62 Byggmakker stores.
This acquisition is yet another consistent step in the implementation of our strategy to grow our market position and develop our profitability in Northern Europe. By strengthening our position in Norway we have an even greater opportunity to offer a competitive service to large Norwegian customers in the building and technical trade.JORMA RAUHALA, PRESIDENT, KESKO’S BUILDING AND TECHNICAL TRADE DIVISION, FINLAND
Oaklins helps create further growth in the Norwegian market
Oaklins’ team in Norway acted as the exclusive buy-side advisor to Byggmakker/Kesko, leveraging our knowledge and solid track record in the building materials industry. This is the third acquisition Kesko has made in Norway since 2018 in which Oaklins’ building materials team has acted as advisors.
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