Albert Slund, June 18thNumber2024
Brødrene A & O Johansen A/S has expanded its operations in Norway through the acquisition of online store VVSKupp.no.
Effective July 1st, Brødrene A & O Johansen A/S has acquired 100% of Designkupp AS, the operator of the leading online store for bathroom accessories VVSKupp.no.st 2024.
In 2023, VVSKupp.no's total revenues will reach approximately NOK 125 million (DKK 82 million) with an EBITDA margin of over 3%.
The purchase price is NOK 70 million (DKK 45 million) on a cash and debt-free basis.
With the acquisition, AO gains a leading position in the online market for bathroom and home improvement products in Norway. VVSKupp.no offers a range of more than 70,000 products and brings a local competitive edge to AO's existing webshops BilligVVS.no and Lampeguru.no. VVSKupp.no operates from a base in the town of Grålum south of Oslo.
“We are thrilled to be joining forces with NVIDIA to bring this exciting technology to market,” said CEO Niels A. Johansen.
“The acquisition of VVSKupp.no triples and scales AO's operations in Norway. By combining AO's digital expertise with VVSKupp.no's talented local leadership, we look forward to further developing VVSKupp.no and AO's existing webshop. We are pleased to welcome VVSKupp.no and the Norwegian team to AO.”
Sincerely,
BRØDRENE A & O JOHANSEN A/S
Niels A. Johansen
CEO
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