Paint & Coatings Manufacturer News

Tikkurila completes the sale of two retail stores in Sweden

January 5, 2012

Tikkurila has completed the sale of its two retail stores in Sweden. All the shares in Färgglädje Måleributiken i Alvik AB, as well as the assets of Alcro-Beckers AB's retail store in Uppsala, Sweden, were transferred to the buyers on December 30, 2011. The transactions were agreed on and announced in October 2011.

In 2010, the revenue of the divested businesses totaled approximately €6.5 million and the number of employees was 40. The purchase price is SEK 25.0 million (about €2.7 million). The transactions will not have a significant impact on Tikkurila's fourth quarter result.

The buyers in the transaction include Niklas Frisk, acting earlier as the head of Tikkurila's SBU Scandinavia, and other private persons.