On 20 April 2016, the Finnish Competition and Consumer Authority (FCCA) approved a corporate transaction based on which Kesko Corporation will acquire Onninen Oy.
The FCCA is of the view that the businesses of Kesko and Onninen are largely complementary to each other, and that the parties to the transaction are not each others’ nearest competitors. The 140 K-Rauta and Rautia hardware stores owned by Kesko mainly operate on the construction material and home refurbishment market. Meanwhile, Onninen focuses on the wholesaling of HPAC and electrical installation products to professional customers. The FCCA is thus of the view that the acquisition will not significantly impede effective competition in the Finnish market or a substantial part of it.
The investigation of this acquisition originally fell within the competence of the European Commission, but was transferred to Finland at the request of Kesko.
The FCCA’s decision includes business secrets of the parties involved. The decision can only be published after the confidential information has been removed, which will take approximately two weeks.
Further information:
Susanna Suvanto, Senior Research Officer, tel. +358 29 505 3346
Maarit Taurula, Head of Research, tel. +358 29 505 3381
firstname.lastname@kkv.fi