Kesko releases supplementary financial data on Suomen Lähikauppa acquisition
Kesko Oyj has published supplementary financial information regarding its acquisition of Suomen Lähikauppa. The deal is valued at approximately 60 million euros and includes 643 stores.
Helsinki – Retail conglomerate Kesko Oyj has released further financial details concerning its previously announced acquisition of Suomen Lähikauppa Oy. Kesko's subsidiary, Kesko Food Ltd, has agreed to purchase all shares in Suomen Lähikauppa from private equity firm Triton.
The transaction price for the debt-free acquisition, structured as a share purchase, is approximately 60 million euros. Suomen Lähikauppa reported net sales of €999.2 million for the year 2014 and operates 643 Siwa and Valintatalo stores, employing approximately 4,100 individuals.
Kesko has provided supplementary information on Suomen Lähikauppa Group's financial performance and position. Unaudited net sales for the first nine months of 2015 reached €713.6 million. The operating profit for the same period was a loss of €4.3 million. As of September 30, 2015, the company's equity stood at €7.6 million, with total assets amounting to €152.7 million.
The information is based on Suomen Lähikauppa Group's internal management reporting and has not been audited. The transaction remains subject to regulatory approval. Kesko has not provided specific timelines for the completion of the acquisition.