STARK Group expands in Finland
STARK Group has, through its Finnish subsidiary, STARK Suomi, signed an agreement to acquire Kodin Terra Tuusula from HOK-Elanto. The acquisition complements STARK Suomi’s comprehensive network of branches in Helsinki. The acquisition fits STARK Suomi very well and is in line with STARK Group’s strategy to grow the company through acquisitions as well as organically. Similar to STARK Suomi, Kodin Terra Tuusula has an assortment and format targeted at the professional builders and renovators in the capital area.
“We want to strengthen our service to the professional builders and renovators in the capital area. The location of Kodin Terra Tuusula and its strong focus on serving the professional builders in the best possible way convinced us. The acquisition complements our 26 branches very well and strengthens our position in the market of construction. We are looking forward to welcoming the employees of the Tuusula branch to the STARK family,” says Harri Päiväniemi.
Kodin Terra Tuusula's personnel will be transferred to STARK upon completion of the transaction. In addition, as part of the signing of Kodin Terra Tuusula, HOK-Elanto and STARK have agreed on a local bonus partner agreement allowing S Group customers to accumulate bonuses from purchases made from all seven STARK branches in the Helsinki metropolitan area.
The agreement between HOK-Elanto and STARK concerning Kodin Terra Tuusula does not affect the other branches in the Kodin Terra chain. The Kodin Terra Tuusula branch will continue under HOK-Elanto until the transaction has been completed.
The acquisition is expected to be completed by 3 December 2021. The parties have chosen not to disclose the terms and price of the transaction.