Kesko completes acquisition of Dahl operations in the Nordics

Kesko has closed the acquisition of the Dahl business units in Sweden, Norway, and Denmark from Saint-Gobain. The debt-free transaction is valued at €1.2 billion, initially financed through bridge facilities intended for future refinancing via equity and debt instruments.

The acquired companies, which generated a combined net sales of €2.1 billion in 2025, will continue to operate under their existing brands as separate business units. They will report to the president of Kesko’s building and technical trade division, with integration limited to essential technical and reporting systems to ensure operational continuity for customers.

CEO Jorma Rauhala stated that the move strengthens Kesko's position in the Nordic technical trade market, which is seeing structural growth due to increasing regulatory demands and the green transition. By combining Dahl’s market reach with existing Onninen operations, Kesko aims to leverage economies of scale as the broader construction market recovers.

Dahl operations will be included in Kesko’s financial reporting effective November 1, 2026. The company estimates one-off transaction costs of approximately €9 million for the current fiscal year.