Merilampi represented Kesko Corporation in its sale of Indoor Group Oy, which is responsible for the Asko and Sotka furniture trade chains, to a company owned by Sievi Capital Oyj, three franchising entrepreneurs from the Sotka chain and Etera Mutual Pension Insurance Company. The debt free price of the sale, structured as a share transaction, is EUR 67 million.
Indoor Group’s net sales in 2016 were EUR 187 million. In addition to webstores, the Asko chain has 34 stores in Finland and 5 in Estonia, and the Sotka chain 52 stores in Finland and 5 in Estonia. The sofa factory Insofa Oy and the Estonian subsidiary Indoor Group AS are also part of Indoor Group.
The transaction will be completed 30 June 2017.