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ELKO enters Nordic-region market by acquiring Swedish-based distributor Gandalf

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ELKO Grupa AS, a Latvian-based distributor of IT products and solutions, today announced an agreement to acquire 85% of shares in Gandalf Distribution AB – one of the leading distributors of computers and peripheral products in Sweden
With over 30 years of experience in distribution and sales offices in Stockholm, Gothenburg and Malmoe, Gandalf has gained a strong position in the storage and component distribution markets in Sweden and the Nordic region.
ELKO has been looking for geographical expansion opportunities for some time. Gandalf’s business model and operational structure is very similar to our own and thus we feel confident about this acquisition. Gandalf’s team is highly motivated and professional and we feel comfortable about the coming integration process and ensuing synergy. By becoming a part of the ELKO Group, Gandalf will be able to significantly expand its product portfolio and benefit from various competence-sharing initiatives.
Svens Dinsdorfs CEO, ELKO Group
Gandalf will become a part of the ELKO Group, but for now will continue to operate under the Gandalf brand. David Nicander will continue to work as the CEO and also remain as a minority shareholder of Gandalf Distribution AB.
Gandalf has for many years successfully grown together with our customers and partners, and today we have taken a new step towards the next level of distribution. I am personally very proud of the opportunity to become part of the ELKO Group, and all the positive opportunities that this gives us at Gandalf to grow and expand our business in the Nordics.
David Nicander CEO, Gandalf
About Gandalf
Gandalf was established in Malmö in 1984 and currently has 40 employees. Gandalf distributes IT-related hardware – laptops, hard drives, monitors, graphics cards, network products and components – to dealers across the Nordic region. Gandalf is one of the region’s largest privately owned distributors with sales offices in Stockholm, Gothenburg and Malmö. Gandalf recently completed its financial year with revenue of SEK 674 million (USD 76.5 million).

More information: www.gandalf.se

About ELKO
The ELKO Group is of the region's largest distributors of IT products and solutions, representing 160 IT manufacturers, and providing a wide range of products and services to more than 7 000 retailers, local computer manufacturers, system integrators and enterprises within various sectors in 24 countries across Europe and Central Asia. The Group’s turnover in 2016 amounted to USD 1 460 million.

More information:
www.elkogroup.com
LinkedIn: https://www.linkedin.com/company/elko-group
Facebook: https://www.facebook.com/elkogroup/
Twitter: @ELKO_Group

Inese Kalveite
Marketing and Communication Director
ELKO Grupa AS
+371 6709 3214
inese.kalveite@elkogroup.com

David Nicander
CEO
Gandalf Distribution AB
+46 70 185 60 00
david.nicander@gandalf.se
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