Our Corporate team in Helsinki recently advised Finnish SGN Group Oy on the acquisition (signed on 27 April) of the business operations of Hobby Hall from Stockmann plc. Hobby Hall will become a significant part of SGN, as the transaction includes Hobby Hall’s assets and liabilities and all of its business operations. With the acquisition, SGN is looking to develop its multichannel business along with its current operations.
In connection with the transaction, Stockmann agreed on an outsourcing arrangement whereby the logistic operations of Hobby Hall (including 130 employess) will be transferred to Posti Plc as of 1 May 2016. Our team represented SGN also on that project.
Hobby Hall’s 2015 revenue was EUR 86 million. At the end of the year, Hobby Hall had about 340 employees, of whom around 130 worked in warehouse operations.
Established in 1933, SGN Group is a strong, continuously developing Finnish family business in the commerce sector. Its areas of business include sports, recreational and household goods, agriculture, environmental management and industrial equipment, and snowmaking and snow-management equipment. The Group also has significant business operations in Sweden and Russia.
Stockmann plc is a Finnish listed company engaged in the retail trade. Stockmann's three business divisions are Stockmann Retail, Real Estate and Lindex.
Hobby Hall is a Finnish webstore focused on leisure and home ware as well as electronics.
The Helsinki team was led by partner Harri Hynninen and assisted by senior associates Iina-Mari Supperi and Mikael Nuotto as well as other lawyers.