“We look forward to working closely with the company’s management in further developing the business. In addition to providing capital to the company, we will leverage our extensive experience from the retail industry and focus on concept harmonisation and improved customer service”, says Mr Michael Rosenlew, Partner of Industri Kapital.
“The combination of the daily goods retail businesses of Wihuri and Tradeka is an opportunity to create a new, more competitive entity in a changing market. The merger is logical because the concepts and the locations of the retail stores complement each other very well”, says Mr Matti Mustaniemi, President of Wihuri.
“Combining resources and knowledge secures larger volumes and increases efficiency which will directly benefit the consumers. The loyal customer bonus program will expand thanks to the growing number of store locations, especially in the Helsinki metropolitan area”, states Mr Antti Remes, President of Cooperative Tradeka Corporation.
The parent company of Tradeka Group is a cooperative owned by nearly 300,000 Finnish consumers. In 2004 net sales of the Group were 1.3 billion euros. The daily goods retail company Tradeka Ltd generated 83% of the net sales and 17% came from the hotel and restaurant company Restel Oy Ltd.
The transaction includes the daily goods retail business Tradeka Ltd. including the three nation-wide shop brands: Siwa, Valintatalo and Euromarket.
Wihuri is a Finnish international trade and industry group. The Wihuri Group comprises four major divisions: Daily Goods, Packaging, Technical Trade and Specialty Products and Services. In 2004 net sales of the group were 1.5 billion euros and the number of personnel approximately 6,200. The Daily Goods Division consists of two companies; Wihuri Oy Aarnio and Ruokamarkkinat Oy. Aarnio is the Group’s wholesale grocery business while Ruokamarkkinat is the daily goods retail business operating the Ruokavarasto, Sesto and Etujätti shop brands. The transaction includes the retail chains of Ruokamarkkinat Oy: Ruokavarasto, Sesto and Etujätti.
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