Finland-based discount retailer Tokmanni has agreed to acquire Sweden-based discount retail chain Ahlberg-Dollarstore AB and Ahlberg Dollarstore ApS (Dollarstore).
As part of the agreement, Tokmanni will acquire 100% of Dollarstore’s shares in a deal valued at €170.4m ($186.06m), which will be paid in cash.
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Dollarstore operates a network of 130 stores across Sweden, with a central warehouse located in Örebro.
In addition, the retailer owns two stores in Denmark after expanding under the brand name Big Dollar last year.
The acquisition aligns with Tokmanni’s strategy to build a solid platform for further growth and expand its operations beyond Finland.
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The combined entity will also gain a strong position in the Nordic discount retail markets and benefit from scale in purchasing and distribution.
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By GlobalDataTokmanni president and CEO Mika Rautiainen said: “I’m extremely delighted that Tokmanni has this exceptional opportunity to build one of the leading Nordic discount retail chains together with Dollarstore. Tokmanni and Dollarstore complement each other in the best possible way. We both share the same values, positive people culture, strong price image and well-aligned product categories.
The deal is subject to customary closing conditions but no regulatory approvals. It is expected to close on 1 August 2023.
Following the acquisition, Dollarstore will continue to operate in Sweden and Denmark under the same brand.
Dollarstore CEO Anders Kind and management team members will continue to operate the business.
Rautiainen added: “By combining our strengths and expertise, we are able to serve our customers even better by offering them our unbeatable prices and an exciting product assortment. Dollarstore and its employees will become a very important part of the new Tokmanni Group and I am convinced that together we will thrive even beyond what we have done before.”
