Kesko completes acquisition of Danish builders' merchant Tømmergaarden A/S
Finnish retailer Kesko Oyj has finalized the acquisition of Danish builders' merchant Tømmergaarden A/S. This purchase makes Kesko's Danish subsidiary Davidsen a major nationwide player in the Danish builders' merchant sector.
HELSINKI – Kesko Oyj, a Finnish retail group, announced the completion of its acquisition of Tømmergaarden A/S, a Danish builders' merchant. This marks the finalization of Kesko's third recent acquisition in Denmark, significantly expanding its subsidiary Davidsen's presence. The completed acquisitions establish Davidsen as a substantial nationwide competitor in the Danish market for building materials.
Kesko initially announced its intention to acquire Tømmergaarden and two other Danish firms in August 2024. The acquisitions of Roslev Trælasthandel and CF Petersen & Søn were completed earlier in 2025. Tømmergaarden's acquisition was finalized as planned.
The combined acquisitions are set to double the size of Kesko's Danish subsidiary, Davidsen, enabling it to serve customers across the country. Tømmergaarden, which focuses on B2B customers in Northern and Central Jutland, held an approximate 10% market share in its operating regions. It operates 17 stores and employs about 400 people. The company will be consolidated into Kesko's financial reporting starting June 1, 2025.
The total debt-free enterprise value for all three acquired companies – Roslev Trælasthandel, CF Petersen & Søn, and Tømmergaarden – amounts to approximately €222 million (DKK 1.66 billion). This strategic expansion in Denmark is part of Kesko's broader growth strategy in Northern Europe.