Kesko to Acquire Nordic Technical Trade Company Dahl

Helsinki – Retail group Kesko Oyj announced on Monday, June 15, 2026, that it has agreed to purchase the companies of Dahl, a leading Nordic operator in the technical trade sector, across Sweden, Norway, and Denmark. This strategic move is expected to significantly expand Kesko's presence in the Nordic technical trade market.

The acquired Dahl businesses are reported to be profitable, with the Swedish operations being the largest. Both parties have agreed not to disclose the specific operating profit figures for the acquired entities. Kesko noted that Dahl's business model in technical trade relies less on a broad store network and more on high volumes, automated central warehouses, and digital sales, which supports its profitability.

Kesko's building and technical trade division reported an operating margin of 3.9% in 2025, while its building and home improvement trade stood at 3.0%. In Finland, Kesko's technical trade arm, Onninen, achieved an operating margin of 5.1% in 2025. Dahl's digital sales currently account for approximately 35% of its total sales, comparable to Onninen's 39%.

Kesko cites the strategic fit and future growth potential as key drivers for the acquisition. The company anticipates the transaction will be earnings per share (EPS) accretive in the long term and support its dividend policy. The acquisition will be financed partly through a share issue estimated between €500–700 million, with further details and timing to be determined later.