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Indoor Group agrees with two franchisees on the acquisition of eight stores

Sievi Capital Oyj
Sievi Capital Oyj

Sievi Capital Plc
Press Release 1 June 2022 at 8:30 am EEST

Indoor Group agrees with two franchisees on the acquisition of eight stores

Sievi Capital’s target company Indoor Group has agreed on the acquisition of the business operations and related assets of the Sotka stores owned by J. Soikkeli Oy and Daja Oy. The agreement is based on Indoor Group’s strategic decision to continue Sotka’s business operations through its own stores.

Indoor Group operates 36 Asko stores and 49 Sotka stores in Finland, and 11 of the Sotka stores are currently operated by franchisees. The business operations of the stores owned by J. Soikkeli Oy and Daja Oy are expected to be transferred to Indoor Group in several stages by the end of 2022. At the same time, the personnel of the stores to be acquired will be transferred to Indoor Group.

The transfer of the stores to be acquired would have had a net sales effect of approximately EUR 5.0 million for Indoor Group in 2021.

SIEVI CAPITAL PLC

FURTHER INFORMATION:
CEO Jussi Majamaa, tel. +358 40 041 2127

DISTRIBUTION:
Major media
www.sievicapital.fi

Sievi Capital is a partner for Finnish entrepreneurs. We support the growth, performance and value creation of small and medium-sized companies and concurrently build national competitiveness. We believe that we succeed together as co-entrepreneurs. Sievi Capital’s share is listed on Nasdaq Helsinki.