Finland’s Market Court has announced its decision to block Kesko’s acquisition of Heinon Tukku.
Acquisition announced in May 2019
The retailer revealed its intention to purchase the wholesale business, in May 2019, from family-owned company Tukkuheino Oy and private individuals.
Commenting on the decision, President of Kesko’s grocery trade division, Ari Akseli, said: “Naturally, we would have hoped for a different outcome. We will now review the Market Court decision and its statement of reasons and then decide if we wish to continue the process. The Market Court decision has not gained legal force yet.”
Purchase was meant to support regional expansion
When it was announced, Kesko said the acquisition of Heinon Tukku would ‘complement Kespro’s current service offering and network especially in the greater Helsinki region’. The purchase was also aimed at helping to support its growth strategy and ‘increase its offering in the growing foodservice market’.