Ekornes has sold all the product rights it holds with respect to the Sacco range of products
Ekornes has sold all the product rights it holds with respect to the Sacco range of products. The sale has been concluded in order to release production capacity at Ekornes Fetsund AS, which will now focus exclusively on the manufacture of Svane mattresses.
The rights have been acquired by the newly established company, Sacco of Norway AS, which will continue the production and sale of Sacco products to current distributors. The agreement comes into effect 16 May 2008.
Sales of Sacco products have generated annual revenues of just under NOK 10 million in recent years. Ekornes owns no shares in Sacco of Norway AS.