Kesko Oyj agreed to acquire a 90% stake in Davidsen Koncernen A/S from Davidsen family for ?170 million on August 23, 2023. The Davidsen family will remain as a 10% minority shareholder in the company. The completion of the acquisition is subject to EU Commission?s merger approval and fulfilment of certain other conditions. Kesko finances the acquisition with a customary bank loan. For the year 2022, the Davidsen Koncernen's had net sales of approximately ?560 million with an EBITDA of ?27 million and an EBIT ?23 million. The transaction is expected to be completed in the first quarter of 2024 at the latest. Carsten Heinild and Jon Kaznelson of SEB Corporate Finance acted as legal advisors to Kesko Oyj. Danske Bank acted as financial advisor to Davidsen Koncernen A/S.

Kesko Oyj acquired 90% stake in Davidsen Koncernen A/S from Davidsen family in September, 2023.