Kesko to acquire Dahl's operations in Sweden, Norway, and Denmark

HELSINKI – Kesko Oyj has agreed to purchase the technical trade companies of Dahl in Sweden, Norway, and Denmark from Saint-Gobain, which is listed on Euronext Paris. The combined net sales of the businesses to be acquired amounted to nearly €2.1 billion in 2025. The all-cash transaction is intended to expand Kesko’s reach in the HPAC and infrastructure construction supply businesses across the Nordic region.

The debt-free transaction price is €1,200 million, excluding lease commitments. Including lease commitments at the end of 2025, the transaction price is €1,518 million. The completion of the acquisition is subject to approval by competition authorities.

Kesko's President and CEO, Jorma Rauhala, stated that the company has been seeking significant acquisition opportunities for years, particularly in technical trade in the Nordic region. He believes Dahl's operations align well with Kesko’s growth strategy and would complement its existing building and technical trade business, noting the significant growth potential in the stable Nordic markets.

Upon completion, building and technical trade would become Kesko’s largest division. The acquisition, along with ongoing growth strategy execution, positions Kesko to target Group net sales of approximately €20 billion ($21.7 billion) in the early 2030s. The company anticipates synergies and earnings improvement in the coming years.