Byggmax acquires DIY online store Buildor for a total of 130 million SEK – with a goal to improve its own e-commerce and learn from Buildor.
”This will be a considerable vitamin injection for Builder,” says Jonatan Schwamberg, CEO Buildor.
The price is a combination of initial consideration and additional consideration based on future sales and profit. Potential additional purchase price is based on sales and operating profit for Buildor in 2016 and 2017. The initial purchase price is 70 million SEK for a debt free company.
Buildor is a fast-growing e-commerce company with operations in Sweden, launched 2013 with the goal of offering a broad assortment in combination with competitive prices. The company has since 2013 grown fast, in addition to having a very high customer satisfaction. Over the last 12 months total turnover was almost 50 million SEK and the growth was over 150%.
”We are impressed by Buildors ability to grow sales and product range width, while keeping costs under control. We are convinced that Byggmax can help Buildor to grow even faster and become profitable sooner. We also see that Buildor can help us to become even better in e-commerce,” says Magnus Agervald, CEO Byggmax Group.
– Together with Byggmax, we get a completely different purchasing muscle and the ability to sell a product range that we do not currently have access to. We can take advantage of Byggmax volumes and purchasing channels, says Jonatan Schwamberg, CEO Buildor
Byggmax completes the acquisition of Buildor in early November.
The home improvement discounter chain Byggmax was launched in 1993 and its business concept is to be the best and most inexpensive alternative for consumers in need of high-quality construction materials. In 2007, the Byggmax launched its business in Norway, and the first store in Finland was opened in 2008. Today Byggmax has 75 stores in Sweden, 30 in Norway and 13 in Finland. The company’s sales amounted to approximately SEK 3,5 billion in 2014. Byggmax has been listed on NASDAQ OMX Stockholm since June 2010.