Kesko completed the acquisition of a 90% stake in Davidsen Koncernen for €170m.

Kesko, a Finnish retailing conglomerate, completed the acquisition of a 90% stake in Davidsen Koncernen, a Danish building materials retailer, for €170m. "An important part of Kesko’s strategy is to grow our building and technical trade business in Northern Europe, especially in B2B trade. We have executed this strategy consistently and acquired many companies in Scandinavia. Acquiring Davidsen and entering the Danish market is perfectly aligned with our growth strategy. Our target is to consolidate the building and technical trade market further in Northern Europe and to be among the leading players in B2B trade in each operating country. The downturn is affecting the business, but at the same time it offers consolidation opportunities for an industrial operator like Kesko,“ Mikko Helander, Kesko President and CEO.