Rusta expands into Finland following acquisition

The Swedish discount chain Rusta has acquired the Finnish low-cost chain Hong Kong, which operates a similar retail format. Hong Kong has 24 stores in Finland and reported latest annual sales of around EUR 120 mio (SEK 1.26 bn). The Rusta Group is now also active in Finland with this takeover. It has been operating in Norway since 2014 and has 22 stores there. Last year Rusta entered the German market, where it has two stores, with another three expected to open this year. Its acquisition of Hong Kong brings the number of stores in the Rusta Group to more than 150, with anticipated annual sales of nearly SEK 7 bn.