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Clas Ohlson acquires majority stake in Spares Europe AB to expand electronics accessories business.

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NORDIC BUSINESS REPORT-October 2, 2023-Clas Ohlson acquires majority stake in Spares Europe AB to expand electronics accessories business

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Swedish home improvement company Clas Ohlson AB (STO:CLAS-B) said on Monday that it has signed an agreement to purchase approximately 91% of the shares in Spares Europe AB, a provider of spare parts and accessories for electronics as well as batteries.

This strategic acquisition bolsters Clas Ohlson's core operations and unlocks growth opportunities in a growing market segment. The purchase price corresponds to a valuation of approximately SEK500m on a cash and debt free basis (EV), with the potential for an additional payment of up to SEK225m.

The move aligns with the rising demand for circularity and the "right to repair" concept, offering sustainability and cost-saving options. Clas Ohlson aims to leverage Spares' expertise in online sales to enhance its online capabilities for both consumer and corporate customers. The synergies between Clas Ohlson's brand strength, market presence and procurement organisation, coupled with Spares' product range and efficiency, are expected to create substantial value.

Spares has access to more than five million spare parts and batteries for more than 200,000 electronic devices. While its primary markets are Sweden, Norway...

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