AS Kellox and Loxkel AS to join forces in 2020
Two Norwegian engine distributors, AS Kellox and Loxkel AS, are to merge on January 1, 2020 and form one company under the name Kellox.
The two distributors have had the same management and leadership team until now. They are both active in Norway and Sweden.
“The structure with two companies is unnecessary and complicated; it takes a lot of resources both for our dealers and for ourselves. That’s why we have decided to fuse Loxkel into Kellox,” says Per-Anton Vinje, CEO of both companies.
Both Kellox and Loxkel distribute different outboard brands, motorcycles, boats and equipment. Sales of marine products at both companies represent around half of their turnover. On the Norwegian market, they have an estimated market share of 16-18%
Kellox is Europe’s oldest Honda distributor and the company turned over NOK 310m in 2018 with profits of NOK 12.5m.
The merger means no changes when it comes to the staff and all employed will be transferred to Kellox.
The story of Kellox and Loxkel goes back to 1950 with brands like Mahle, Hoeckle, Glyco and Ate. In recent years the two companies have grown with Honda MC, Honda outboards, Tohatsu outboards, VDO, Polaris, Motul, Piaggio, Vespa, Gilera, Shoei, HJC, Pioner boats, Terhi boats, Kymco, AMT boats, Aprilia, Moto Guzzi and others.