HELSINKI, Dec. 2, 2019 /PRNewswire/ -- Kamux will be expanding in Helsinki Metropolitan Area by acquiring the business of Autosilta. Kamux Suomi Oy, part of Kamux Corporation, has signed an agreement to acquire the business and assets of Autosilta from Jagro Oy. The agreement was signed on 2 December 2019. The price of the transaction will not be published. The completion of the transaction is subject to approval by competition authorities
Autosilta is focusing on used car sales, and it is located in Niittykumpu in Espoo. In 2018, Autosilta's revenue amounted to EUR 23.0 million. Autosilta employs 12 persons on agreement date, and they will transfer to Kamux as old employees. With the acquisition, the stock of over 400 cars will be transferred from Autosilta to Kamux.
"With the acquisition of Autosilta, Kamux will further strengthen its foothold in Helsinki Metropolitan Area, in addition we'll increase the selection of cars for sale. The business location is perfect for our purposes and growth in Helsinki Metropolitan Area," says Tommi Iiskonmäki, Country Director, Kamux Finland.
Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has total of 71 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold more than 240,000 used cars, 46,596 of which were sold in 2018. Kamux's revenue reached EUR 527.8 million in 2018. In 2018, Kamux's average number of employees was 472 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.
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Kamux Suomi Oy,
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