K Group is a leading operator in Northern European building and technical trade with operations in eight countries. In 2018, the building and technical trade division’s net sales in Northern Europe totalled EUR 4.1 billion.
In Sweden, the building and technical trade division operates 17 K-rauta stores, one K Bygg & Grund store and 13 Onninen Express stores and employs 1,000 professionals. Onninen’s HEPAC business segment employs some 80 professionals in Sweden, who will transfer to the buyer together with 12 Onninen Express stores. The divested segment serves mostly SME contractor clients in Sweden and its net sales totalled EUR 70 million in 2018. The transaction allows Kesko to focus on building-related B2C and B2B trade and the infrastructure business in technical trade in Sweden.
The completion of the acquisition is subject to the approval of the Swedish competition authorities and the fulfilment of the other terms and conditions of the transaction.