Kesko has completed the acquisition of the Volkswagen, Audi and SEAT businesses of Laakkonen Group

Kesko Group company K Caara Oy has completed the acquisition of the Volkswagen, Audi and SEAT businesses of Laakkonen Group.

The transaction comprises Laakkonen Group’s Volkswagen, Audi and SEAT businesses in Hyvinkää, Hämeenlinna, Joensuu, Kuopio, Lahti and Tampere. The combined pro forma net sales of the businesses acquired totalled some €259 million in 2018 and operating profit €5.4 million.

The approximately 460 employees of the acquired businesses will transfer to
K-Caara and the business operations will continue to lease their current premises. The parties do not disclose the transaction price.

Kesko Corporation announced it would acquire the operations in a press release issued on 25 April 2019. The Finnish Competition and Consumer Authority (FCCA) announced their approval of the acquisition on 29 May 2019.

Further information:

Johan Friman, President, Kesko’s car trade division, johan.friman@kesko.fi, tel. +358 105 338 451 

Jukka Erlund, EVP, Chief Financial Officer, jukka.erlund@kesko.fi, tel. +358 105 322 113

Kesko Corporation

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