Kesko completes acquisition of Carlsen Fritzøe Handel in Norway
Kesko subsidiary Byggmakker Handel has finalized the purchase of the Norwegian building supplies retailer Carlsen Fritzøe Handel for 144 million euros.
Kesko Corporation has completed the acquisition of Norwegian building and home improvement chain Carlsen Fritzøe Handel AS through its subsidiary, Byggmakker Handel AS. The transaction, valued at approximately 144 million euros, adds 25 stores and one distribution center to Kesko’s existing operations in Southern Norway.
The acquired business reported 201 million euros in net sales and an EBITDA of 13.3 million euros for 2019. The company maintains a strong market share among small to medium-sized contractors and individual consumers, particularly within the renovation sector.
This move represents Kesko’s fourth acquisition in the Norwegian building and technical trade market over the past two years, aligning with its regional growth strategy. The Norwegian competition authorities approved the deal without conditions in July 2020. The acquisition expands Kesko’s footprint, particularly in the Oslo fjord region, complementing the company’s existing Byggmakker store network.