Fresks continues to expand through the acquisition of XL-BYGG Östergyllen, the leading building material retailer in Östergötland, having six stores. The owners in Östergyllen will continue their current operational roles and will reinvest a significant share of the proceeds.
XL-BYGG Östergyllen was founded in 1949 and today has revenues of around 330 million across six stores in Linköping, Motala, Mjölby, Vadstena, Rimforsa and Åtvidaberg. Östergyllen has a clear focus on the professional segment and is a leading company in an attractive region with solid future growth prospects. Fresks and Östergyllen together creates the clear leader within XL-BYGG with pro forma revenues of SEK 1.3 billion, a solid base for improved profitability through further growth and synergies. The acquisition of Östergyllen is the second add-on after Litorina acquired the majority of Fresks in February, and is a clear step in the continued growth plan for the company.
”We have on our own grown from one to six establishments and almost trippled revenues with improved profitability. We have a solid concept with clear customer focus and it feels incredibly exciting to continue to grow and constantly improve together with Fresks” says Mattias Fahlén CEO of XL-BYGG Östergyllen.
”XL-BYGG Östergyllen has had a fantastic growth journey through new establishments and acquisitions under solid profitability, and is geographically located in an attractive region” says Leif Lindholm, CEO at Fresks Group. ”Östergyllen will become an additional geographic platform for future growth through new acquisitions and selective greenfields the years to come”.
Fresks Group will with the acquisition of Östergyllen have revenues of SEK c 1.3 bn, approx. 355 co-workers and 21 stores.
The acquisition of Östergyllen is conditional upon competition approval.
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 in Northern Sweden focused on the professional segment. The company has 21 stores under the brands XL-BYGG Fresks, XL-BYGG Forsells, XL-BYGG Östergyllen and Gärdin & Pärsson. 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