|On 12 January 2016, Kesko Corporation made an agreement to acquire Onninen Oy's whole share capital from Onvest Oy. The pro forma net sales of the business to be acquired were €1,438 million and the EBITDA was €39 million for the period from October 2014 until the end of September 2015. The transaction price of the debt-free acquisition, structured as a share purchase, is €369 million. Onninen's steel business and Russian subsidiary are not included in the acquisition. With the acquisition, Kesko's business in HEPAC and electrical product groups will expand significantly and it will be able to provide better service, especially to contractor customers. In addition, Kesko will gain new customer relationships from infrastructure and industry customer groups.