SanomaWSOY Corp. Press Release 9 August 2007 at 9:30
Rautakirja, part of the SanomaWSOY Group, is strengthening its position in Russia by acquiring from the French Lagardère Services all shares of the press distributor OOO Press Point International and the kiosk operator OOO HDS CIS. The combined net sales of these companies total some EUR 5 million and they employ about 180 persons. The new companies strengthen both Rautakirja's press distribution business and the newly established kiosk operations in Russia. The acquisition is subject to the approval of the Russian antitrust officials.
This acquisition will bring to Rautakirja 25 business locations, e.g. in the Mega Mall shopping centres. Most shops are situated in Moscow and the rest in St. Petersburg, Kazan, Yekaterinburg and Nizhny Novgorod. The shops will be operating under the R-kiosk brand. Furthermore, this acquisition will bring to Rautakirja know how and a position as the importer of foreign press.
"This is an interesting step in developing our Russian operations and it fits well into our strategy to become a major player in press distribution in the biggest cities of the country," says Erkki Järvinen, President and CEO of Rautakirja.
Rautakirja already operates in Moscow the press distribution company Pressexpo and the kiosk and convenience retail company R-kiosk. Independent Media, part of the SanomaWSOY Group's magazine division, is the leading consumer magazine publisher in Russia.
Senior Vice President
Finance and Administration
Erkki Järvinen, President and CEO, Rautakirja Corporation, tel. +358 400 455 913
Raimo Kurri, Senior Vice President, Rautakirja Corporation, tel. +358 400 443 742
Rautakirja is the market leader in kiosk operations, press distribution and movie theatres in Finland and the Baltic countries, and press distribution in Romania. Additionally, it leads the Finnish and Estonian markets for bookstores and, from the beginning of 2007, also the Dutch market for press distribution. Its press distribution business and kiosk operations have also expanded into the Russian market. Rautakirja is part of the SanomaWSOY Group, which operates in versatile fields of media in over 20 European countries.