The Finnish perishables market saw a major change as Kesko, the market leader, acquired one of its main competitors, Tuko. Tuko's last year turnover was around 1 billion U.S. dollars, and the total acquisition price will be around 400 million U.S. dollars. With Tuko, Kesko's turnover is expected to rise to around 8.5 billion U.S. dollars and this year it is estimated to make a profit of around 150 million U.S. dollars.
The acquisition makes Kesko the clear market leader in the Finnish perishable goods sector. Of the total market of around 11 billion U.S. dollars Kesko will have a market share of around 60 per cent. Further, in European terms, Kesko will rank around 20th in the perishables sector.
For the first time in Finnish major acquisition the competition authoririties are going to examine the acquisition.
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ARTICLE
14 June 1996