Estonian roofmaker buys a Finnish competitor
25.04.2012, 10:09Estonian roof marker Toode has acquired JanLa Oy, a Finnish competitor, writes Äripäev.
The parties have not disclosed the purchase amount. “It is not in hundreds of thousands of euros,” said Indrek Kasela, board member of Toode, referring to significant purchase price.
“You cannot buy good Finnish companies for peanuts,” added Aivo Rosenberg, founder and CEO of Toode.
Toode ended last year with revenue of 14.2 million euros and a profit of 0.5 million euros. JanLa that in 2010 won the Kauppalehti award as Finland’s fastest-growing developing enterprise had revenue of 8 million euros in 2011.