ELKO Group completed the acquisition of a 78.95% stake in Renewed.

ELKO Group, an international IT and consumer electronics products and solutions provider, completed the acquisition of a 78.95% stake in Renewed, a Swedish electronics recommerce company specializing in refurbished devices. Financial terms were not disclosed. "While recommerce growth is consistently outpacing new device sales over several years now, we see that it brings increasing complexity to our channel partners, requiring specialist know-how to ensure that this segment demonstrates solid performance. We see that the combination of ELKO’s infrastructure and market reach with Renewed’s know-how and ambition will enable our partners to become successful recommerce market participants," Svens Dinsdorfs, ELKO Group CEO.