Brødrene A & O Johansen A/S, a leading retailer in home improvement and bathroom products, has announced its expansion into the Norwegian market through the acquisition of VVSKupp.no. The online store specializes in bathroom products and was acquired for NOK 70 million on a cash and debt-free basis.
Based in Albertslund, Denmark, AO already has existing webshops in Norway, including BilligVVS.no and Lampeguru.no. With the addition of VVSKupp.no, which is located in Grålum, south of Oslo, AO will bring local expertise to enhance its offerings and establish a strong presence in the Norwegian online market for bathroom and home improvement products.
VVSKupp.no had a total revenue of approximately NOK 125 million with an EBITDA margin of over 3% in 2023. The acquisition price was based on this revenue and margin figures, indicating that AO values VVSKupp’s strong financial performance and customer base.
CEO Niels A. Johansen expressed excitement about the acquisition, stating that it will significantly increase AO’s presence in Norway and allow for the development of VVSKupp.no and their existing webshops. He looks forward to working with the Norwegian team from VVSKupp to further strengthen their position in the market and take advantage of growth opportunities in Norway’s rapidly expanding e-commerce sector.
Brødrene A & O Johansen welcomes VVSKupp.no and its team to the AO family and is optimistic about the future collaborations and growth opportunities in the Norwegian market. This acquisition marks a major milestone for both companies as they continue to expand their operations across Europe and beyond.
Kindest regards,
Niels A.
CEO
