Type
Merger/Acquisition
Country
Finland
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail trade
47 - Retail trade

370 jobs
Number of planned job losses
Job loss
Announcement Date
8 January 2004
Employment effect (start)
Foreseen end date
1 December 2005

Description

Due to a merger of Kesko Agro and K-maatalousyhtiöt, cooperation procedures will be started.

The cooperation procedure concerns Kesko Agro Ltd's agricultural business in Finland and concerns some 120 people. At the same time, K-maatalousyhtiöt Oy also starts a cooperation procedure concerning some 250 employees. The underlying factor of these procedures is the sales developments of both companies that fell short of expected. The objective is to find means of enhancing competitiveness and achieving cost savings.


Sources

  • 8 January 2004: Helsingin Sanomat

Citation

Eurofound (2004), Kesko, Merger/Acquisition in Finland, factsheet number 59156, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59156.