The family behind the builders’ merchant Davidsens Tømmerhandel has sold an ownership interest of 90% to the listed Finnish group Kesko at a valuation of the entire company of EUR 190m.
Davidsens Tømmerhandel was founded in 1944 by Christian Davidsen and has been owned by the Davidsen family ever since. The company focuses on B2B customers and is among the largest timber merchants in Denmark with a market share of approx. 9%.
Davidsens Tømmerhandel has approx. 850 employees and 23 stores in Denmark. The company continues under its own name and with the Davidsen family as minority shareholders. In 2022, Davidsens Tømmerhandel had its highest revenue of DKK 4.2bn.
Kesko is one of Finland’s largest companies with approx. 1,800 stores in Finland, Sweden, Norway, Estonia, Latvia, Lithuania and Poland and operates in the grocery trade, the building and technical trade and the car trade, and more. With the acquisition of Davidsens Tømmerhandel, Kesko enters the Danish market as part of its growth strategy and strengthens its position in Northern Europe.
The transaction is subject to the approval of the Danish competition authorities.
Accura advised the Davidsen family in connection with the transaction with assistance from dedicated employees from all Accura’s teams.