Kesko Oyj Class A · OMXHEX:KESKOA
Kesko Oyj Class A — Merger or Acquisition (June 2026)
12 slides from Kesko Oyj Class A's merger presentation, Jun 15, 2026
Slide 1: Kesko strengthens technical trade by acquiring the operations of Dahl in Sweden, Norway and Denmark
KESKO STRENGTHENS TECHNICAL TRADE BY ACQUIRING THE OPERATIONS OF DAHL IN SWEDEN, NORWAY AND DENMARK JORMA RAUHALA, PRESIDENT AND CEO JUNE 15, 2026
Slide 2: Kesko announces its biggest ever acquisition – strengthens position in technical trade
KESKO ANNOUNCES ITS BIGGEST EVER ACQUISITION – STRENGTHENS POSITION IN TECHNICAL TRADE • Kesko has been seeking notable large acquisition targets especially in Nordic technical trade for years, interesting companies rarely available • Kesko has agreed to acquire the Dahl technical trade companies in
Slide 3: The Dahl acquisition in brief
THE DAHL ACQUISITION IN BRIEF • Primarily a strategic acquisition: Supports Kesko’s growth and strengthening of profitability, synergies not the main driver • Significant sales and earnings growth potential: Strengthening market and megatrends that support growth, benefits derived from higher volume
Slide 4: The acquisition marks the beginning of the next chapter in Kesko's growth story
THE ACQUISITION MARKS THE BEGINNING OF THE NEXT CHAPTER IN KESKO'S GROWTH STORY → KESKO SEEKS NET SALES OF SOME €20 BILLION IN THE EARLY 2030S THROUGH THE ACQUISITION AND GROWTH STRATEGY EXECUTION → BUILDING AND TECHNICAL TRADE WOULD BECOME KESKO’S BIGGEST DIVISION FOLLOWING THE ACQUISITION. NET SAL
Slide 5: Growth in technical trade supported by megatrends
GROWTH IN TECHNICAL TRADE SUPPORTED BY MEGATRENDS • RENOVATION BUILDING: STEADY GROWTH IN RENOVATION BUILDING AND IN RENEWING TECHNICAL INFRASTRUCTURE • URBANISATION: BUILDING NEW TECHNICAL INFRASTRUCTURE, DENSE URBAN DEVELOPMENT • GREEN TRANSITION: INCREASING EU REGULATION AND VOLATILE ENERGY MARKE
Slide 6: Dahl is an iconic, leading operator in technical trade
DAHL IS AN ICONIC, LEADING OPERATOR IN TECHNICAL TRADE • A company with over 160 years of history, very respected among technical trade B2B customers • A leading operator especially in HPAC products and NET SALES €614 MILLION infrastructure construction • Combined net sales of the businesses to be a
Slide 7: Dahl has a strong foothold in HPAC and infrastructure products
DAHL HAS A STRONG FOOTHOLD IN HPAC AND INFRASTRUCTURE PRODUCTS • Stable business: More than half of sales come from renovation building and one-third from infrastructure construction, NET SALES BREAKDOWN 100% B2B trade • Particularly strong in HPAC and infrastructure product sales: Over 50% of sales
Slide 8: What would the acquisition mean for Kesko's Building and Technical Trade division?
WHAT WOULD THE ACQUISITION MEAN FOR KESKO’S BUILDING AND TECHNICAL TRADE DIVISION? • A significantly stronger foothold and sales growth in technical trade in the Nordic countries • Raising technical trade’s share of the division’s net sales from 49% (in 2025) → ~ 65% • Raising B2B trade’s share of t
Slide 9: Kesko gained strong expertise and experience in major integrations by acquiring Onninen
KESKO GAINED STRONG EXPERTISE IN TECHNICAL TRADE AND EXPERIENCE IN MAJOR INTEGRATIONS BY ACQUIRING ONNINEN • ONNINEN HAS BEEN PART OF KESKO SINCE 2016, SUCCESSFUL INTEGRATION IN 7 COUNTRIES • OPERATES UNDER THE INDEPENDENT ONNINEN BRAND • STRONG EXPERTISE IN TECHNICAL TRADE • STRONG DEVELOPMENT OF D
Slide 10: Kesko to become a leading technical trade operator
KESKO TO BECOME A LEADING TECHNICAL TRADE OPERATOR Kesko’s illustrative net sales combined with Kesko’s technical trade illustrative net sales Kesko’s net sales (2025): €12.5 billion DAHL Sweden, Norway and Denmark (2025): combined with DAHL Sweden, Norway and € 14.5 billion Denmark (2025): € 4.4 bi
Slide 11: Key take aways
KEY TAKE AWAYS • KESKO HAS BEEN SEEKING NOTABLE LARGE ACQUISITION TARGETS ESPECIALLY IN NORDIC TECHNICAL TRADE FOR YEARS, INTERESTING COMPANIES RARELY AVAILABLE • DAHL IS A LEADING TECHNICAL TRADE COMPANY IN THE NORDICS, WITH A LONG HISTORY, A STRONG AND WELL-RESPECTED BRAND, A COMPREHENSIVE AND EFF
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