Clas Ohlson acquires Spares

Swedish retail chain Clas Ohlson acquires Spares, a leading company within spare parts and accessories for electronics as well as batteries. This week, the retailer has entered into an agreement to acquire approximately 91 per cent of the shares in Spares Europe AB. According to the company, the acquisition strengthens Clas Ohlson’s core business and creates new growth opportunities within a growing market segment. The purchase price corresponds to a valuation of approximately SEK 500 mio (EUR 43 mio) on a cash and debt free basis (EV) and a potential additional purchase price of up to SEK 225 mio (EUR 19 mio). During the unaudited twelve-month period ending 30 June 2023, Spares generated sales of approximately SEK 820 mio (EUR 71 mio).

An ever-growing demand for circularity and “the right to repair” is expected to be a strong and enduring structural driver within retail going forward. The market for the reuse of electronics is relatively underdeveloped in the Nordics, a press release of Clas Ohlson says, with considerable potential for growth as consumers and companies increasingly are choosing spare parts, repairs, and reuse rather than buying new units. By acquiring an expert in online sales, Clas Ohlson also wants to strengthen its online capabilities for both private and business customers.