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Teknos Group Oy has acquired the entire share capital of Kemiflora Kaubandus OÜ from AS Kemiflora. Kemiflora Kaubandus OÜ is an affiliated company of AS Kemiflora, to which AS Kemiflora has transferred its entire paints and coatings business.
The acquisition is subject to approval by Estonia’s competition authorities.
With the acquisition, Kemiflora’s entire paints and coatings business will be transferred to Teknos. AS Kemiflora will continue its operations in the real estate leasing business.
Kemiflora has been involved in Estonia’s paints and coatings industry for many years and has been a long-time importer of industrial and architectural coatings for Teknos. The turnover of Kemiflora’s paints and coatings business is more than €5M/yr.