2008-12-10

Kemira: Alcro-Beckers to acquire a Flagship Store for the Alcro brand in Stockholm

Following its strategy of maintaining its position in the Swedish market, Alcro-Beckers AB, part of the Finnish Tikkurila which is responsible for Kemira's paints and coatings business, has signed an agreement to acquire a 100% stake of the shares in the paint store Färgglädje Måleributiken AB ("Måleributiken") in Alvik, Stockholm from its owner Lars Andersson. Måleributiken's revenue totalled approximately MSEK 55 (EUR 5.8 million) in 2007. The store currently employs about 20 people. The parties have agreed on not disclosing any financials details.

Today Alcro-Beckers is a clear leader with an approximately 40% share of the highly competitive decorative paints market in Sweden. Måleributiken is the company's first wholly-owned store for serving consumers. Alcro-Beckers currently has nine stores of its own for serving professionals only and it is also a part owner of the retail chain Beckers Nya Hem, an umbrella organization for about 110 independent retailers. Alcro is the main paint supplier to Colorama, the largest chain of paint retailers in the country with about 205 stores.

"Acquiring one of Sweden's best performing paint stores is for us a great opportunity," says Niklas Frisk, Managing Director for Alcro-Beckers AB. "Måleributiken has a successful concept of combining paint, wallpaper, textiles and accessories. The store is well-known in Stockholm for its high-quality products, skilled personnel and innovative concepts for home decoration."

"Måleributiken will be the future Flagship Store for the Alcro brand and the store will also allow us to experiment with various consumer concepts, do campaign and product tests and learn more about web-shopping", Frisk continues.

"Alcro-Beckers is the best partner for continuing to develop the store and the concept in the future. They are on the frontline in the market regarding trends and concept development," comments Lars Andersson, previous owner of Måleributiken.

Information about the company: Kemira Oyj