Business Services Industry

Swedish store displays maker HL Display AB acquires Finnish distributor Sooni Oy

Nordic Business Report, May 4, 2007

Swedish store displays maker HL Display AB said on Friday (4 May) that it has agreed to acquire its Finnish distributor Sooni Oy.

The acquisition price was not disclosed.

Sooni, based in Helsinki, is the leading supplier of store communication and display systems to the Finnish retail sector. Its customers include Kesko, SOK, Tradeka, Alko and Procter & Gamble.

The acquired business will be organised as a new company, HL Display Suomi Oy, with an expected annual turnover of approximately EUR3m.

In addition to increased revenue the transaction is also expected to result in synergy gains.

HL Display, headquartered in Skarpnack, Sweden, has some 950 employees and achieved sales of SEK1.4bn in 2006. In addition to operations in Sweden, HL Display has also manufacturing facilities in the UK, China and the US, as well as sales companies in 29 countries worldwide. HL Display is listed on the Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 1.46 euros (EUR). One British pound (GBP) is worth approximately 13.40 Swedish kronor (SEK).

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