Press release - Brødrene A & O Johansen A/S expands its business in Norway through the acquisition of the online store VVSKup.no
Source: GlobeNewswireAlbertslund, June 18th, 2024
Brødrene A & O Johansen A/S expands its business in Norway through the acquisition of the online store VVSKupp.no.
Brødrene A & O Johansen A/S has acquired 100 percent of Designkupp AS, which operates VVSKupp.no, the leading online store for bathroom products, as of July 1st 2024.
In 2023, total revenue of VVSKupp.no amounted to approximately NOK 125 million (DKK 82 million) with an EBITDA margin of more than 3%.
The acquisition price amounts to NOK 70 million (DKK 45 million) on a cash and debt free basis.
With the acquisition AO gains a leading position in the Norwegian online market for bathroom and home improvement products. VVSKupp.no offers a product range of more than 70,000 items and will bring local competencies to AO’s existing webshops BilligVVS.no and Lampeguru.no. VVSKupp.no operates out of a site in Grålum, a town to the south of Oslo.
CEO Niels A. Johansen says:
“The acquisition of VVSKupp.no triples AO’s business in Norway bringing scale to AO. Combining AO´s digital expertise with the competent local leadership from VVSKupp.no, we look forward to further developing VVSKupp.no as well as AO’s existing webshops. We are happy to welcome VVSKupp.no and the Norwegian team to AO.”
Kind regards
BRØDRENE A & O JOHANSEN A/S
Niels A. Johansen
CEO
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