Deal announcement: Kesko acquires Dahl’s operations in Sweden, Norway and Denmark

Deal size: €1.5bn

Type of deal: Corporate acquisition

Sector: Technical trade

Kesko has agreed to acquire the technical trade operator Dahl’s companies in Sweden, Norway and Denmark from Saint-Gobain, listed on Euronext Paris. The combined net sales of the businesses to be acquired amounted to nearly €2.1 billion in 2025. The transaction, the largest in Kesko’s history, would expand Kesko’s presence in the HPAC and infrastructure construction segments across Sweden, Norway and Denmark.

PwC advised Kesko on this transaction, providing financial, tax, IT & cyber, and human resources due diligence, as well as carve-out considerations, tax structuring, deal accounting advice, and SPA support.

Object of sale: Dahl’s operations in Sweden, Norway and Denmark

Seller: Saint-Gobain

Buyer: Kesko Oyj

Deal announcement date: 15 June 2026

PwC’s role: Financial, tax, IT & cyber and HR due diligence; carve-out considerations; tax structuring; deal accounting advice; and SPA support

Press release