Nordic Capital fund VII is acquiring Tokmanni from majority owner Capman Oyj (OMXH: CPMBV), founder Kyösti Kakkonen & family and Maxi-Makasiini founder Seppo Saastamoinen. The everyday operations and employees should not notice any material changes. Capman will book a 1.2 million Euro capital gain in 2012 accounts from the sale, which still needs to gain approval from relevant competition authorities. The cash flow effect is around 4.4 million Euros.
Tokmanni and other budget shopping chains such as Halpa Halli have often find it hard not only to receive the necessary building permits from urban homesteading but also to get the nod to sell foodstuffs from official in S cooperative or Kesko's back pocket. The political climate seems to be becoming less tolerant of such arrangements and it may be easier going forward. Tokmanni does have a few shops that only sell dry foodstuffs and other commodities. Nordic Capital is very optimistic in the future prospects of the company, stating that there is a clear need for more shops in the extremely concentrated Finnish retail sales market. Tokmanni has quite a lot of debt so it needs some muscle behind it to be able to reach such goals.
The group now consists of Tokmanni, Tarjoustalo, Robinhood, Vapaa Valinta, Maxi-Makasiini, Maxi-Kodintukku and Säästöpörssi shops. In total its 144 retail outlets make it the largest discount store chain in Finland. It recently launched an internet shopping service that is yet to catch flight. Its 2011 sales were close to 650 million Euros and it currently employs 2900 people.
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