Norwegian Reitan Servicehandel (RSH) has acquired more than 1.000 kiosks from the Finnish media company Sanoma OY in Finland, Estonia and Lithuania. The purchase price is approx. 130 million Euros. As a result of the latest acquisition, Magnus Reitan will manage more than 2.500 stores with close to NOK 14 billion in revenue and 18.000 employees in seven countries.

- This acquisition makes us Europe's second largest convenience store operator, an achievement of which we are very proud. All of the chains have a leading position in their respective markets, and it is with great humility we are going to further develop these brands in Finland, Estonia and Lithuania, Reitan Servicehandel CEO Magnus Reitan says.

The revenue in Finland, Estonia and Lithuania is to a great extent based on traditional newsstand products such as tobacco, magazines and lottery, while Narvesen and Pressbyran to a larger degree have developed new and profitable product groups such as meals to go, drinks and electronic services.

Reitan Servicehandel (RSH) comprises Narvesen in Norway and Latvia, Pressbyran in Sweden, and 7-Eleven in Norway, Sweden and Denmark. RSH holds a leading position in all four countries. As of 31 December 2011 the number of shops was 1.489, and RSH had revenues of NOK 11.4 billion in 2011.
Reitan Servicehandel is a part of the Reitan Group (Reitangruppen). The Reitan Group consists of four areas of operation: REMA 1000, Reitan Servicehandel, Reitan Real Estate (Reitan Eiendom) and the Uno-X Group. In addition, Reitan Group owns the subsidiary Spaceworld and holds a share of 15,62 percent in Axfood. Reitan Group's vision is to become known as Scandinavia's most value driven company. In 2011, Reitan Group had revenue of NOK 63 billion (including franchise turnover) and employed 27.500 people in Scandinavia and Latvia, making it one of Norway's ten largest companies.