Oy Sultrade, a leading sports distribution company in Finland, has been acquired by Oy Transmeri, a larger Finnish company specializing in the distribution of fast-moving consumer goods, from cosmetics to food and fashion. Like Sultrade, Transmeri is located in the Finnish town of Espoo.
Formerly owned by the Forsström family, Sultrade describes itself as the third-largest player in Finnish sports distribution, behind Adidas and the L-Fashion Group. Employing 60 people, it reached sales of about €35.5 million in 2010 with the distribution of brands such as Umbro, Craft, Easton, Hestra, Kettler, Speedo and The North Face. In some cases it acts only as an agent. Some of the products are sold by the company in Finland as well as in the Baltics.
Sultrade also owns a brand, Catmandoo, that focuses on winter sports and golf apparel, but covers also sports footwear, underwear, beachwear, and clothing for leisure, fitness and outdoor sports. Sultrade began in 1990 by distributing this Swedish brand in Finland, but then bought it and built up its European distribution, reaching an annual turnover of more than €12 million in 14 countries.
Founded in 1975, Sultrade was originally involved in the food sector. It diversified into the sporting goods business because one of its partners was the chairman of the Finnish Football Federation. It started off with Umbro and then added the distribution of Puma, which it lost about 10 years ago.
Headed by Ann Marie Didrichsen, a second-generation member of the family that owns the company, Transmeri employs 500 people. It reaped sales of about €128 million in 2010. Transmeri prides itself on its long-term approach and longstanding relationships with SC Johnson and with brands such as Weetabix as well as Chanel, Guerlain and Estée Lauder. In February 2009, Transmeri bought another company in the paper industry, Oy Banlark.
While Sultrade is already a well-oiled and profitable company, Transmeri could add some distribution, marketing and financial firepower, but company officials indicated that there will be no layoffs as a result of the integration.
Sultrade will operate as an independent subsidiary of Transmeri and Ulf Forsström, Sultrade's longtime chief executive, will remain on board. He said he had been looking for new owners for several years, since none of the other members of his family were interested in running Sultrade. Instead, Transmeri is already grooming the third generation of the Didrichsen family to carry on the business.
