Seppälä stores sold – agreement signed

      Comments Off on Seppälä stores sold – agreement signed

102 Seppälä stores in Finland and Estonia have a new owner from tomorrow. Stockmann and Eveliina and Timo Melentjeff has now signed the agreement.

Stockmann has signed an agreement regarding the selling of its subsidiary, Seppälä Oy, to Seppälä’s CEO Eveliina Melentjeff and her husband Timo Melentjeff on 1 April 2015.

The transaction covers 82 Seppälä stores in Finland and 20 in Estonia.

The selling of Seppälä will improve the Stockmann Group’s profitability.

Seppälä’s revenue in 2014 was EUR 92.6 million and operating result excluding non-recurring items was -27.2 million.

The purchase price of Seppälä does not have a significant effect on Stockmann’s earnings.