Kesko

News aus der Elektroindustrie

12
Mar

Solar from Denmark takes over the majority of the Swedish Onninen branches from the Finnish parent company Kesko.

Solar from Denmark takes over the majority of the Swedish Onninen branches from the Finnish parent company Kesko.

One talks about the business unit heating and air conditioning and 12 branches, but that is almost the entire distribution network in Sweden. The turnover of the acquired branches amounts to DKK 400 m (EUR 53 m).

The transaction is expected to be completed by the end of the second quarter of 2019 at the latest.

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Mikko Pasanen (43) has been appointed CEO of Onninen Oy with effect from 1st June.

Mikko Pasanen (43) has been appointed CEO of Onninen Oy with effect from 1st June.

The Onninen Group, which has been owned by Kesko since the beginning of the year, is a leading electrical wholesaler in Scandinavia, the Baltic region and Russia with a turnover of EUR 1.52 bn in 2014.

Kesko is a trading company in fields such as building and DIY materials and generated a turnover of EUR 9.07 bn in 2014.

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The Onvest Group has sold its electrical wholesale company Onninen to Kesko today at a selling price of EUR 369 m.

The Onvest Group has sold its electrical wholesale company Onninen to Kesko today at a selling price of EUR 369 m.

Kesko is a trading company in sectors such as construction and DIY materials and made a turnover of EUR 9.07 bn in 2014.

Onninen is a leading electrical wholesaler in Scandinavia and the Baltic region together with Russia, employing approx. 3,000 people, 1,200 of them in Finland. In 2014 Onninen made a turnover of EUR 1.52 bn.

Onninen was founded in 1913 and is now in its fourth generation, so that it was important for the current owners to sell their business to an established Finnish company.

The sale now has to be approved by the anti-cartel authorities, and a conclusion is expected in the 1st half year 2016.

Onninen’s Russian outlet and its steel business as well as its building service ARE are excluded from the sale.

Kesko is hoping the purchase will yield synergies for its own programme, if only because building and renovation is becoming more and more technical and is therefore assigned to professionals.

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