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Ingka Investments Acquires Kitchen Service Company

IKEA kitchen.jpg

Ingka Investments1, the investment arm of Ingka Group2, today announces it has acquired the remaining 51% of Traemand, a US based kitchen service company, after previously acquiring 49% of the company in 2018. Traemand is currently a partner to IKEA Retail in Canada, UK and US where it’s integrated in the IKEA kitchen business to simplify the planning and installation process for customers.  

The acquisition of Traemand is part of accelerating Ingka Group’s retail transformation, where offering customers an accessible and affordable service is an important part. Traemand provides systems and digital tools that offer IKEA customers a more efficient kitchen buying process from measuring and planning their kitchen (online and in store) to installation and customer support.  

“With Traemand fully onboard, we can bring our kitchen expertise and offer in one seamless customer experience. We are taking a more dynamic approach to investments and acquisitions so we can strengthen our IKEA Retail business and invest in companies like Traemand which offer new capabilities and services,” says Krister Mattsson, Managing Director of Ingka Investments.  

The IKEA partnership with Traemand first started in 2005 and it has been a long-standing and fully dedicated partner for the IKEA kitchen service business in the US and more recently Canada and the United Kingdom. Traemand offers competence and capabilities which supports customers with a seamless kitchen purchase from in-house measurement, online and instore kitchen planning, installation of the kitchen and customer support services.   

“We are delighted to be joining IKEA and be further integrated across the IKEA Retail business. Buying a kitchen is one of the biggest purchases’ customers can make and we want to make it as simple and convenient as possible for them. This will allow us to make our kitchen service concept available to more countries in the future,” says Bjarne Rasmussen, founder of Traemand.  

The full acquisition will allow further development and integration into the IKEA kitchen service business across Ingka Retail countries.

“We are really excited about welcoming Traemand and co-workers into Ingka Group. This will allow us to develop the kitchen buying process even more for our customers, making it simple and convenient as possible for them,” says Angela Zhu, Market Support Manager, Ingka Group.     

The agreement was signed on 08 September 2020. Ingka Group now fully owns Traemand and further integration of Traemand into the IKEA Retail organisation, will be completed together with Ingka Group countries over a two-year period.

Note 1 - Ingka Investments make strategic investments and acquisitions that secure our long-term financial strength and support the growth, business transformation and sustainability goals of Ingka Group.

Note 2 - Ingka Group is a strategic partner in the IKEA franchise system, operating 380 IKEA stores in 31 countries. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres.

Source : Ingka Group

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16 September 2020

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