Byggmakker Handel AS has acquired Skattum Handel AS

Byggmakker Handel AS, a wholly owned subsidiary of Kesko Corporation, has acquired Skattum Handel AS.

This acquisition is an important step in the implementation of the strategy to grow and develop Kesko's market position in Northern Europe. It represents an opportunity for enhanced synergies which will increase Kesko's operations competitiveness, creating an even greater opportunity for growth and increased profitability.

Byggmakker Handel is a wholly owned subsidiary of Kesko Corporation, a listed Finnish company operating in the grocery, building and technical, and the car sectors. Byggmakker Handel is a part of Kesko’s building and technical trade division which is active in eight countries. In Norway, the division includes 25 Onninen stores and 65 Byggmakker stores, mostly operated under the retailer business model. In 2017, Byggmakker Norway’s net sales amounted to US$460 million.

Skattum Handel is a Norwegian player in the building and home improvement trade sector, with net sales of approximately US$108 million in 2017. The company operates 10 Byggmakker-branded stores around the Oslo area and employs 320 professionals.

Skattum Holding is the holding company of the Skattum family. The company invests in building materials retail and real estate, as well as equity and venture investments. Skattum Holding has three subsidiaries: Skattum Handel AS, Skattum Eiendom AS, Skattum Invest AS.

Oaklins' team in Norway advised Byggmakker Handel AS in this transaction.