Cars Laakkonen sells its car business to a Swedish company

Laakkonen sells all its car business to the Swedish Hedin Mobility Group, the company informs.

The deal concerns, among other things, the sale of new and used cars, maintenance and spare parts services, and repair shops. According to the company, all Laakkonen employees will continue to work for the new owner in their current positions.

“We are honored to enter the Finnish car market through Laakkonen. Laakkonen is a leading automotive company that is diversifying our business and strengthening our market position, ”Hedin Mobility Group owner and CEO Anders Hedin says in a press release.

“Together, we will create an even stronger, more brand-based and more efficient foundation on which we can build the car dealership of the future in Finland.”

Laakkonencar group was founded in Joensuu in 1960. It is still one of Finland’s largest car retail chains.

Tauno Laakkonen originally set up a limited company to sell timber in 1943. Other members of the family have played an important role since the company’s inception, and in particular Reino– Yes GeorgeThe boys continued to run the business after Tauno.

The business turned into a car dealership, partly by chance, when Hungarian customers had paid for their wood on motorcycles instead of money. The family business noticed that they were trading well and held their first car show just two years before the regulation of the new car trade was abandoned in Finland.

Last year Laakkonen turnover was 615 million euros. The Group employs 855 people.

“This acquisition is an excellent solution that benefits all stakeholders. We consider it important that the family company we have built over the decades continues its journey with another strong family company, ” Reetta Laakkonen says in a press release.

The parties to the transaction intend to complete the acquisition by the end of May.

Correction 17.5. at 2:20 p.m .: The acquisition is expected to be completed by the end of May this year, not next year.