According to the assessment of the Finnish Competition Authority, the deal does not create or strengthen such a dominant market position that would significantly prevent competition in the Finnish market or an essential part of it.
The deal will considerably strengthen the position of Kesko and its subsidiary Keswell in the Finnish home and speciality goods trade in particular. Currently interior decoration supplies and furniture are sold by Anttila Oy, a Keswell subsidiary, in the Anttila and the Kodin Ykkönen department stores. Together with the Asko and Sotka chains, Keswell will be the market leader in the Finnish furniture trade with a market share of about 25%.
Indoor Group Ltd, with its Asko and Sotka store chains, is the market leader in furniture trade in Finland. Asko runs 29 stores in Finland, mainly in major localities. In Sweden, it operates 2 stores in the Greater Stockholm area. In addition, Asko has one store in Estonia and one in Latvia. Sotka has 52 stores in Finland, 3 in Estonia and 1 in Latvia. Indoor Group's central warehouse is in Finland and it has a logistics centre in Tallinn. Eight of the Asko stores and 32 of the Sotka stores operating in Finland are managed by franchise entrepreneurs. In 2003, Indoor Group's net sales were 167 million euros and its profitability was good.
Keswell Ltd specialises in the home and speciality goods trade in Finland. Keswell's biggest subsidiary is Anttila Oy, which operates with four concepts: Anttila department stores, Kodin Ykkönen, Anttila mail order business and netanttila.com. Other Keswell store concepts are Intersport, Kesport, Musta Pörssi, Andiamo, K-kenkä, Kenkäexpertti and Academica. Outside Finland, Keswell operates Anttila mail order business in Estonia and Latvia. In 2003, Keswell's net sales amounted to 726 million euros and it employed a total of about 3,200 persons.
Further information:
Matti Laamanen, President of Keswell Ltd, tel. +358 1053 39100
Pasi Mäkinen, Vice President, Keswell Ltd, tel. +358 1053 39101
Matti Laamanen, President of Keswell Ltd, tel. +358 1053 39100
Pasi Mäkinen, Vice President, Keswell Ltd, tel. +358 1053 39101
KESKO Corporation
Corporate Communications
Corporate Communications
Erkki Heikkinen
Senior Vice President
Senior Vice President
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