Kesko-backed Byggmakker Handel completed the acquisition of Carlsen Fritzoe Handel for $170m.

Retail company Kesko-backed Byggmakker Handel, a building material supplier, completed the acquisition of Carlsen Fritzoe Handel, a home products retailer, from H. Carlsen Holding, a hardware company for $170m. “The acquisition is yet another consistent step in the implementation of our strategy to grow our market position and develop our profitability in Northern Europe.The acquisition of Carlsen Fritzøe Handel is a good fit to our existing operations and store network in Norway, as we have been lacking a solid Byggmakker store network in the densely populated greater Oslo region where growth is the fastest. By strengthening our position in Norway, we have an even greater opportunity to offer competitive service to Norwegian nationwide large customers in building and technical trade. Furthermore, the acquisition supports Kesko’s growth strategy in Northern Europe by offering us increased economies of scale and synergy potential,” Jorma Rauhala, Kesko President.