STARK Group expand its footprint in Sweden through 2 new acquisitions
STARK GROUP has through its Swedish business unit Beijer Byggmaterial AB (Beijer) signed separate agreements to acquire the two builders merchant chains PoG Woody Bygghandel and Karl Ekesiöö Bygghandel AB, who in total are operating eight branches in Sweden with a combined annual revenue of approx. 60 Million EUR.
PoG Woody Bygghandel AB is a strong regional player operating six branches including a distribution centre in Southern Sweden, which is an important growth centre for the building materials supply industry.
Karl Ekesiöö Bygghandel AB is operating two branches in attractive locations with substantial building activity in the metro-area of Stockholm, (where Beijer earlier this year acquired the business of Bygg-Ole).
The two acquired businesses are serving professional customers, of which approximately 85 per cent being small and medium-sized professional builders fitting directly into the STARK GROUP strategy.
The two bolt-on acquisitions will further strengthen Beijers’ presence and position in Sweden to serve the professional builders through a future network of 82 branches in total.
“I am very pleased to announce these two new acquisitions in Sweden and to welcome another 150 Swedish colleagues to the STARK GROUP family. The eight branches fit perfectly into our strategy, focused primarily on serving the small and medium-sized professional customers in the construction and renovation industry,” says Søren P. Olesen, CEO of STARK GROUP, adding:
“Our Swedish business unit Beijer Byggmaterial AB is already very successful winning market shares in the Swedish market for the last 24 months in a row. After bringing PoG Woody Bygghandel AB and AB Karl Ekesiöö Bygghandel into the STARK- family we will have a strong foothold in important growth pockets of the Swedish market allowing us to offer even better service to our customers and further explore synergies and scale benefits as a group,” says Søren P. Olsen.
STARK GROUP already operates 186 branches across the Nordics through its subsidiaries STARK Danmark A/S in Denmark and Greenland, STARK Suomi OY in Finland, Neumann Bygg AS in Norway and Beijer Byggmaterial AB in Sweden who will operate the eight new branches, when the acquisitions are completed.
The completions of the acquisitions are subject to necessary clearances from relevant authorities.