О3 Сompany Buys 100% Shares of KIILTOCLEAN
O3 Company has signed a preliminary sale and purchase agreement for 100% shares of KiiltoClean LLC, owned by the Finnish Kiilto Group who specializes in the high-class solutions for professional hygiene. The deal is expected to be completed as soon as the Permission of Government Commission of the Russian Federation is obtained.
“The acquisition of Kiilto's high-performance professional hygiene business in Russia is fully in line with O3's strategy for developing the detergents and disinfectants segment,” Mr. Gregory Shifrin, CEO of O3, said.
“Our key priority is the well-being of our employees. In accordance with the terms of the deal, more than 65 employees of KiiltoClean LLC will continue their employment with the new owner,” Mr. Arto Raivio, Managing Director of Kiilto, said.
Products under the Kiilto, Kiilto Pro and Erisan brands, manufactured at factories in Russia and Finland, will be available on the Russian market until the end of the transition period, which will last until March 31, 2023, after which rebranding will take place. By the end of 2022, the name of the legal entity KiiltoClean LLC will also change. Kiilto Group will support O3 Company with the replacement of the current IT infrastructure with a new one and other transitional processes to ensure business continuity.
О3 Company − is a technology company focused on protective materials for new construction and safe operation of industrial and infrastructure facilities. O3 Company employs more than 100 people, has a research laboratory, a participant of Skolkovo Innovation center, and a factory in the Rostov region with a production capacity of 30 million liters of water-based and solvent-based coatings per year.
Kiilto − professional hygiene’s market leader in Nordic countries, offering complete cleaning solutions for the food industry, professional kitchen hygiene, professional cleaning, hospital hygiene, personal hygiene, laundries. The company's products are manufactured at a factory in St. Petersburg, which also houses a research and development center.
For additional information please go to О3 Company’s and Kiilto’s websites www.o3.com and www.kiilto.ru.