MEKO : expands in Estonia

English

Published: 2024-07-08 08:00:00 CEST MEKO AB Investor News MEKO expands in Estonia MEKO strengthens its position in Estonia by acquiring the company Automeister. The acquisition includes the well-established workshop concept Carstop, with 14 affiliated facilities across Estonia. This deal is part of the strategy to continue gaining market shares and improving profitability in the Baltic region. Automeister is a privately-owned auto parts wholesaler, founded in 1993, which has been operating the Carstop concept in Estonia since 2003. Today, Carstop is one of the country's most well-known chains, where Automeister supports the affiliated workshops with everything from spare parts to training and marketing. MEKO has already been operating in Estonia through the wholesale brand Balti Autoosad and the workshop concept Fixus. With this acquisition, MEKO will now operate two workshop concepts and become one of the leading companies in the country's independent automotive aftermarket. "Estonia is part of a strategically important region for MEKO where we want to continue growing. Our goal is to be the leader in all our markets, and the acquisition of Automeister is a logical step. This gives us greater opportunities to continue gaining market shares, extract synergies between our Estonian operations, and further improve our profitability," says Pehr Oscarson, President and CEO of MEKO. MEKO's goal is to be the most complete partner for everyone who drives, repairs, or maintains cars in Northern Europe. The company operates in eight markets and serves customers through a large number of well-known brands and workshop concepts with a strong local presence. MEKO established its operations in Estonia in 2022 and is also present in Latvia and Lithuania. For further information, please contact: Pehr Oscarson President and CEO, MEKO Phone: [phone] Email: [e-mail] Anders Oxelström Director of Communications, MEKO Phone: + 46 73 522 52 42 Email: [e-mail] Attachments: 07052757.pdf This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices To subscribe on regulatory news from this company, go to the subscription page