Finnish retail group Kesko Oyj disclosed a €1.2 billion acquisition of the building‑materials distributor Dahl’s operations in Sweden, Norway and Denmark. The assets are being bought from French conglomerate Cie. de Saint‑Gobain SA, with the price quoted before debt is taken on. The deal marks Kesko’s largest single transaction to date, expanding its footprint in the Nordics.

By adding Dahl’s three‑country network, Kesko gains a direct channel to professional builders and DIY customers, complementing its existing home‑improvement stores. The acquisition bolsters revenue streams in markets where construction activity remains robust, and provides cross‑selling opportunities for Kesko’s own private‑label products. Analysts note the move could tighten competition with other regional distributors.

The transaction, valued at roughly $1.4 billion, will be financed through a mix of cash reserves and debt facilities, according to sources familiar with the deal. Closing is expected later this year, subject to regulatory clearance. Kesko’s expanded presence positions it as a dominant player in the Scandinavian building‑materials sector.

Investors have responded positively, with Kesko’s share price edging higher on the news, reflecting confidence in the growth outlook. The deal also signals a broader trend of consolidation in Europe’s construction supply chain, as larger retailers seek scale to negotiate better terms with manufacturers. Kesko now controls a significant share of the regional market.