Kesko to acquire Finnish foodservice wholesaler Heinon Tukku
Kesko has agreed to acquire the foodservice wholesaler Heinon Tukku Oy from the family-owned company Tukkuheino Oy and private individuals. The transaction enables Kesko to execute its growth strategy and increase its offering in the growing foodservice market.
The wholesale company Kespro is part of Kesko’s grocery trade division and serves foodservice (hotel, restaurant and catering) and public sector customers in Finland. Kespro employs some 500 people and in 2018, the company recorded net sales of €872 million. Kespro has 14 cash & carry outlets across Finland. Heinon Tukku will complement Kespro’s current service offering and network especially in the greater Helsinki region, also enabling significant synergies.
Heinon Tukku has some 450 employees and is one of the leading foodservice market operators in the greater Helsinki region. In 2018, the combined net sales of Heinon Tukku and Kalavapriikki Oy, a company specialising in fish processing, amounted to €264 million and comparable pro forma operating profit to €10.0 million, taking into account the impact of properties acquired. Kesko will also assume ownership of Kalavapriikki Oy and the delivery and cash & carry outlet properties in Espoo, Helsinki, Kuopio and Vantaa.
“We continue to develop Kespro’s business in line with our strategy. Kespro’s offering in the extensive foodservice market already includes, for example, fresh foods expertise alongside the more traditional wholesale selections. Heinon Tukku is an esteemed wholesale operator with over one hundred years of experience in excellent customer service. Heinon Tukku will notably improve Kespro’s ability to serve its customers also in the greater Helsinki region,” says Ari Akseli, President of Kesko’s grocery trade division.
”Heinon Tukku is in good shape and has a good reputation. We considered it important that ownership of the company would remain in Finland, and we trust that Kesko will be a good owner for Heinon Tukku. Kespro’s responsible and customer-oriented way of working made the decision easier for us,” says Petri Heino, Managing Director of Tukkuheino.
The acquisition is subject to approval by the Finnish Competition and Consumer Authority and the fulfilment of the other terms and conditions of the transaction. The transaction is expected to be completed during 2019.
Further information:
Ari Akseli, President of Kesko’s grocery trade division, tel. +358 105 323 490, ari.akseli@kesko.fi
Petri Heino, Managing Director, Tukkuheino Oy, tel. +358 500 451 625
Jukka Erlund, EVP, Chief Financial Officer, tel. +358 50 506 5735, jukka.erlund@kesko.fi
K Group media desk (Mon-Fri 8-16), tel. +358 105 350 200, viestinta@kesko.fi
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Kespro is the leading foodservice wholesale company in Finland and acts as a partner for its customer businesses and municipalities. Kespro offers its customers a diverse range of tailored procurement solutions as well as delivery and collection services. We never compromise on quality and base everything we do on a genuine understanding of our customers. We want eating out to become more popular and responsible and offer positive experiences. Kespro is part of K Group. www.kespro.com
Kesko and K-retailers together form K Group, whose sales total €13 billion. K Group is the third biggest retail operator in Northern Europe and it employs some 41,000 people. Kesko operates in the grocery trade, building and technical trade, and car trade. Its divisions and chains act in close cooperation with retailer entrepreneurs and other partners. Kesko's net sales total €10 billion and it employs approximately 23,000 people. Kesko has around 1,800 stores engaged in chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Belarus and Poland. Kesko’s shares are listed on Nasdaq Helsinki. The company's domicile and main premises are located in Helsinki. Kesko is the world's most sustainable trading sector company (The Global 100 Most Sustainable Corporations in the World). www.kesko.fi
