Approval from the competition authority for the transfer of Secto Automotive's business to Kamux

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Oct 17, 2024, 08:42 ET

Kamux Corporation, Press Release, 17.10.2024 at 15:30

ESPOO, Finland, Oct. 17, 2024 /PRNewswire/ -- The Finnish Competition and Consumer Authority has approved the transfer of Secto Automotive's used car business to Kamux. The showrooms in Friisilä, Espoo, and Petikko, Vantaa, as well as their personnel, will become part of Kamux Finland on 31.10.2024 at the latest. The annual revenue of the transferring used car business in 2023 was approx. EUR 78 million and it has 14 employees.

Jani Koivu, Managing Director of Kamux Finland: "It is great that we can now start the cooperation with Secto and that the capable Secto staff and the showrooms in Friisilä and Petikko become part of the Kamux team already now. A warm welcome to everyone. The two additional showrooms will strengthen our position in the greater Helsinki area (Helsinki, Espoo and Vantaa) further and with altogether eight showrooms we are able to serve the customers in the area even better. At the same time we get relatively new and regularly serviced cars for sale immediately."

For further information, please contact:
Tapio Pajuharju, CEO, Kamux Corporation, tel. +358 50 577 4200
Jani Koivu, Managing Director, Kamux Finland, tel. +358 20 769 4285
Katariina Hietaranta, Head of Communications & IR, tel. +358 10 420 8831

Kamux Corporation
Communications

Kamux is a retail chain specialized in preowned cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has a total of 71 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux's revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com

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