Martinex Oy buys revamped Aarikka Oy
Raisio-based family business Martinex Oy has purchased the entire capital stock of Aarikka Oy from the company’s current owners, the daughters of founder Kaija Aarikka. Aarikka Oy will continue its operations as a subsidiary of Martinex Oy.
Martinex Oy, a producer of gift products, household goods, toys, games and textiles, will create a home for the renewed Aarikka brand in a financially stable and international family business. The acquisition will support Aarikka Oy’s internationalisation efforts and strengthen Martinex Oy’s brand selection.
“Finnish work and Finnishness are at the heart of Martinex. Aarikka is a fantastic Finnish brand with strong, old roots. The company and its products are a great match with Martinex Oy, which has also previously grown through acquisition”, Martinex Oy CEO and Partner Riia Sandström says.
Pauliina Aarikka, who is continuing as a product designer at Aarikka, is very satisfied with the new owner: “We found a good successor for Aarikka, one who is able to put a strong emphasis on the company’s development.”
Of Aarikka Oy’s two million euro turnover, half comes from its home and gift products, and the other half from jewellery made from natural materials. Martinex Oy began its operations as a producer of gift products and household goods, which are still an essential part of the company alongside textiles, games and toys. The company’s turnover in 2016 was approximately 12 million euros.
“Aarikka has done a lot of work over the past year to clarify its brand and internationalise its operations in order to increase the company’s turnover. Exports grew last year from less than five per cent to nearly fifteen per cent of the company’s turnover. This acquisition brings with it many new opportunities and a boost to Aarikka’s internationalisation efforts and increasing turnover”, says Anu Vauhkonen, CEO of Aarikka Oy.
The parties have agreed not to publish the purchase price.
For more information, please contact:
Aarikka Oy: Anu Vauhkonen, CEO of Aarikka Oy, +358 40 765 2484
Martinex Oy: Riia Sandström, CEO of Martinex Oy, +358 50 569 7494
On behalf of the owners selling their shares: Pauliina Aarikka +358 50 336 6006
Martinex Oy is a designer and manufacturer of toys, games, gift products, household goods and textiles, with exports to over 50 countries. It employs approximately 40 people. The majority of the board games it produces carry the Key Flag Symbol. Martinex received the entrepreneur of the year award in 2013.
Founded in 1954, Aarikka Oy is a design company specialised in home and jewellery products. The company’s turnover is two million euros and it has a dozen direct employees. Aarikka products are handmade, either by home-based employees or at centres promoting social inclusion and employment. The products carry the Key Flag Symbol and the Design from Finland mark. Aarikka received the entrepreneur of the year award in 1984.