Norgros has been acquired by Rautakesko
Rautakesko Ltd., a Kesko Corporation subsidiary, has signed an agreement with the16 owners of Norway’s Norgros AS to acquire 79.54 % of the company’s shares at a maximum total price of US$160 million (€98.3 million). In addition, Rautakesko has offered to acquire the rest of Norgros AS’ shares by 27 June 2005.
Norgros manages the Byggmakker hardware and building materials chain, which is the market leader in Norway with a market share of about 18%. The Byggmakker chain comprises 133 stores, 20 of which are owned by Norgros. The other stores of the chain are owned by retailer-entrepreneurs who have signed a chain agreement with Norgros.
In Finland, Rautakesko operates a chain of 40 K-rauta stores and a chain of 105 Rautia stores, plus the nationwide B2B service unit. In Sweden, there are currently 14 K-rauta stores. In Estonia and Lithuania, Rautakesko is the market leader in the hardware and builders’ supplies trade, while in Latvia it operates three K-rauta stores. In Russia, Rautakesko is in the process of finalizing the acquisition of the St. Petersburg Stroymaster chain.
Kesko is a Finnish-listed trading sector company operating in the grocery, home improvement, specialty goods and car trades. Its divisions and chains act in close cooperation with retailers, entrepreneurs and other partners. Kesko is the fifth-largest operator in the European building and home improvement trade market. Kesko’s retail chains in the sector include K-rauta, Rautia, Byggmakker, Senukai and OMA.
Oaklins’ team in Norway acted as the exclusive financial advisor to the seller in this transaction.
Kontakt ansvarlige rådgivere
Nikolai K. Lunde
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