Fresks continues to expand through the acquisition of Övik Låsteknik AB with operations in Örnsköldsvik. The previous owners will retain their respective operating roles in the company and reinvest a significant share of the proceeds from the transaction in Fresks.
Övik Låsteknik sells products, solutions and services within locks and security and will add to Fresks’ business area “Locks & Security”. The company has 5 employees and reported c. SEK 12 million in sales during the fiscal year ending 30 April 2017 with healthy profitability.
After the acquisition Fresks Group will have a total of 24 stores with pro forma revenues of c. SEK 1.5 billon and c. 380 employees.
For further information, please contact:
Leif Lindholm, +46 70 698 27 00, CEO Fresks Group
Fresks, founded in 1862 is a leading Swedish building material retail chain focused on the professional segment. The company has 24 stores under the brands XL-BYGG Fresks, XL-BYGG Östergyllen and Gärdin & Persson. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se and www.gardinpersson.se