Customers love low prices. Between 1970 and 1990, a large number of discount stores were established in Finland. Thanks to their good value-for-money products, these stores quickly became popular among customers. Our Tokmanni Group originates from local variety discount store chains founded by several merchants and merchant families.

Vapaa Valinta, established by Juha and Paula Malminen in Pirkkala in Finland in 1974, is the oldest variety discount retail chain transferred to Tokmanni Group’s ownership. In 1978, Pirkko and Hannu Vuokila founded the Säästökuoppa variety discount retail chain in Oulu. One year later, the first Maxi-Makasiini store, established by Seppo Saastamoinen together with his brother Paavo, was opened in Kajaani.

In the 1980s, variety discount retailers emerged rapidly all around Finland. Arja and Kari Hautanen established Tarjoustalo in Hyvinkää in 1980, and Timo and Tapio Halme opened Säästöpörssi in Karjaa in 1985. In 1985, Jyskän Varastomyymälä was also established. Seppo Saastamoinen and his brother Jukka Saastamoinen founded Robinhood in Kouvola in 1988. Okman Oy, which later became Tokmanni, was established by Kyösti and his brother Kari Kakkonen in eastern Finland in 1989. Seppo Saastamoinen was also involved in establishing Maxi-Kodintukku in 1999.

The recession of the early 1990s had a dramatic effect on the retail sector, and many Finnish store chains went bankrupt. However, it strengthened variety discount retailer’s position, as customers increasingly began to love low prices. Thus, demand grew for a nationwide variety discount retailer that could offer even lower prices, as well as a wide and attractive product range. In 1995, six Kauppavirrat Oy stores was transferred to the ownership of Tokmanni.

In the early 2000s, Tokmanni decided to expand and grow into a nationwide variety discount retail chain. Tokmanni’s ownership structure changed, with the CapMan private equity investment company becoming Tokmanni’s majority owner with a 60.6% holding, while the remaining 39.4% was held by Joensuun Kauppa ja Kone Oy, a company owned by Kyösti and Kari Kakkonen.

This arrangement enabled strong growth, and was soon followed by mergers of various variety discount retailers with Tokmanni. In October 2004, 35 Vapaa Valinta stores were integrated with Tokmanni. The most significant acquisitions were made in 2005 and 2006: Tokmanni acquired 33 discount stores from the Tarjoustalo, Maxi-Makasiini and Maxi-Kodintukku chains and 12 stores from the Robinhood chain. In conjunction with this, the Seppo Saastamoinen family became shareholders in Tokmanni (24% ownership), together with a CapMan fund (51% ownership), the Kakkonen brothers (24% ownership) and Tokmanni’s operating management (close to 2% ownership).

Tokmanni’s strong growth continued after these ownership rearrangements. In 2005, Tokmanni acquired Milleri, a Kylmäkoski-based family business started by Pekka and Ritva Kouvo, and the businesses of a few Säästökuoppa stores. In 2007, Tokmanni acquired 10 Säästöpörssi stores from Tapio and Timo Halme.

In 2008, Tokmanni’s Administration and Logistics Centre was opened on Isolammintie in Mäntsälä to make the company’s sourcing and logistics more efficient in particular.

In 2009, Pick-Import Oy, an importing company, was registered as part of the Tokmanni Group. Kyösti Kakkonen resigns as the CEO of Tokmanni and joins its Board of Directors. Heikki Väänänen takes over as CEO of Tokmanni.

In 2011, Tokmanni opens its online store.

In 2012, a consortium created by Nordic Capital acquired the entire share capital of Tokmanni. The shares were sold by a CapMan fund, Kari and Kyösti Kakkonen’s Joensuun Kauppa ja Kone Oy and the Saastamoinen family’s Suomen RH-yhtiö (later known as Takoa Invest Oy). The Saastamoinen family invested 10% in the new Tokmanni entity created by Nordic Capital. Nordic Capital holded 85%, and the operating management 5% of the shares.

In 2013, Tokmanni began cooperating on sourcing with Europris in Shanghai, China.

In 2015, all stores had been renewed under the Tokmanni brand.

In 2016, Tokmanni Group was listed on the Nasdaq Helsinki stock exchange.

In 2017 Harri Sivula, (then) Chairman of the Board, was appointed as Tokmanni’s interim CEO. A little later, in 2018, Mika Rautiainen became the CEO of Tokmanni Group.

In autumn of 2018, Tokmanni bought nine stores from the Ale-Makasiini variety discount retail chain. In January 2019, Tokmanni expanded its network in northern Finland by acquiring four stores: a Centtilä store in Keminmaa, a Säästökuoppa store in Sodankylä and two TEX stores in Kemijärvi and Rovaniemi. In early 2020, Tokmanni acquired the business of the Perhemarket Pertti Heikkinen Ky store in Pudasjärvi. The acquired business in Pudasjärvi transferred to the ownership of Tokmanni on 1 April 2020. Later, in 2021, Tokmanni acquired the business operations of the stores in the TEX chain in Tornio and Kemi. The acquired business in Tornio and Kemi transferred to the ownership of Tokmanni on 1 August 2021.

In February of 2021, Tokmanni Group reported it had reached a significant milestone when its revenue for 2020 exceeded one-billion-euro threshold for the first time in the company’s history.

In 2022, Tokmanni launched its lifestyle brand Miny. In addition, in November 2022, Tokmanni acquired the business operations of Jyskän Varastomyymälä Oy in Jyskä in Jyväskylä. The business operations of Jyskän Varastomyymälä Oy, which was established in 1985, were taken over by Tokmanni as of 1 January 2023.

In February 2023, Tokmanni concluded an agreement on acquiring the entire share capital of the Finnish footwear store chains Click Shoes Oy and Shoe House Oy. Tommi Ahola established Click Shoes in 2001 and Shoe House in 2008. In early 2023, the two companies had a total of 29 stores across Finland and an online store. Ownership of Click Shoes Oy and Shoe House Oy transferred to Tokmanni on 1 March 2023.

In the spring of 2024, Tokmanni agreed to acquire the Finnish outdoor clothing brand Catmandoo and its products from the fashion company Nanso Group. Ownership of Catmandoo was transferred to Tokmanni in May 2023.

In August 2023, Tokmanni Group went international as it closed the acquisition of Dollarstore, one of the leading Swedish variety discount retailers. At that time, Dollarstore, which was established by Peter Ahlberg in 1994, had 130 Dollarstore stores in Sweden and two Big Dollar stores in Denmark.

In September 2023, Tokmanni concluded an agreement with the retailer and entrepreneurial couple Terttu and Jaakko Pirtinaho’s Mutalan Kauppa Oy to acquire the business of the Villen Kauppa grocery store in Ylöjärvi, Finland. The Villen Kauppa business was transferred to Tokmanni on 1 January 2024.

In November 2023, Tokmanni’s Moreeni logistics centre was completed near the current Administration and Logistics Centre in Mäntsälä, Finland. Together these buildings form an important administration and logistics complex of around 130,000 gross square metres for Tokmanni Group.

In January 2025, Tokmanni Oy entered into an agreement with SPAR International. The license to operate the SPAR brand and sell SPAR products exclusively in Finland was granted to Tokmanni. The first EUROSPAR supermarket was celebrated in Ylöjärvi in June 2025.

In addition to growing through acquisitions, Tokmanni Group has continued to open new stores in suitable commercial locations.

At the moment, Tokmanni Group consists of Tokmanni and Dollarstore segments as well as Group functions and eliminations. Tokmanni segment consists of Tokmanni stores, Click Shoes stores and Shoe House stores, as well as Tokmanni and Click Shoes online stores. Dollarstore segment consists of Dollarstore and Big Dollar stores.

Tokmanni Group’s history in brief

• 1974 Vapaa Valinta is established in Pirkkala, Finland.
• 1978 Säästökuoppa is established in Oulu, Finland.
• 1979 Maxi-Makasiini is established in Kajaani, Finland.
• 1980 Tarjoustalo is established in Hyvinkää, Finland.
• 1985 Säästöpörssi is established in Karjaa, Finland. Jyskän Varastomyymälä is established in Jyväskylä, Finland.
• 1988 Robinhood is established in Kouvola, Finland.
• 1989 Tokmanni is established in Eastern Finland.
• 1995 Milleri is established in Kylmäkoski, Finland. Six Kauppavirrat stores are transferred to Tokmanni’s ownership.
• 1999 Maxi-Kodintukku is established in Kajaani, Finland.
• 2001 Click Shoes is established.
• 2004 Vapaa Valinta stores are integrated with Tokmanni. CapMan becomes Tokmanni’s majority shareholder.
• 2005 Robinhood and Tarjousmaxi stores are integrated with Tokmanni.
• 2006 Milleri store in Kylmäkoski in Finland and a few Säästökuoppa stores are integrated with Tokmanni. Tokmanni Group is established.
• 2007 Säästöpörssi stores are integrated with Tokmanni.
• 2008 Tokmanni’s Administration and Logistics Centre is opened in Mäntsälä, Finland. Shoe House is established.
• 2009 Pick-Import Oy, an importing company, is registered as part of the Tokmanni Group. Kyösti Kakkonen resigns as the CEO of Tokmanni and joins its Board of Directors. Heikki Väänänen takes over as CEO of Tokmanni.
• 2011 Tokmanni opens its online store.
• 2012 A consortium created by Nordic Capital acquires the entire share capital of Tokmanni. The shares were sold by a CapMan fund, Kari and Kyösti Kakkonen’s Joensuun Kauppa ja Kone Oy and the Saastamoinen family’s Suomen RH-yhtiö (now known as Takoa Invest Oy). The Saastamoinen family invest 10% in the new Tokmanni entity created by Nordic Capital. Nordic Capital holds 85%, and the operating management hold 5%.
• 2013 Cooperation on sourcing with Europris begins in Shanghai.
• 2015 All stores have been renewed under the Tokmanni brand.
• 2016 Tokmanni is listed on the stock exchange.
• 2017 Harri Sivula, (then) Chairman of the Board, is appointed as Tokmanni’s interim CEO.
• 2018 Mika Rautiainen becomes the CEO of Tokmanni. Tokmanni acquires the Ale-Makasiini chain of nine stores.
• 2019 Tokmanni acquires a Centtilä store, a Säästökuoppa store and two TEX stores.
• 2020 Tokmanni acquires the business of the Perhemarket Pertti Heikkinen Ky store.
• 2021 Tokmanni reports its full-year revenue for 2020 exceeded the one billion euro revenue threshold for the first time in the company’s history. In addition, Tokmanni acquires TEX chain stores in Tornio and Kemi. Tokmanni’s revenue grows to EUR 1,142 million and comparable EBIT amounts to EUR 106 million.
• 2022 Tokmanni acquires the business of Jyskän Varastomyymälä Oy in Jyskä, Jyväskylä. The business operations of the store that has been known as Jyskän Varastomyymälä transfers to Tokmanni’s ownership on 1 January 2023. In addition, in early 2022, Tokmanni launches Miny, its lifestylebrand, and opens four dedicated Miny stores as well as 20 Miny shop-in-shop departments.
• 2023 Tokmanni acquires the entire share capital of the Finnish footwear store chains Click Shoes Oy and Shoe House Oy in early 2023. Ownership of the companies transfers to Tokmanni on 1 March. In addition, in spring, Tokmanni acquires Catmandoo, the familiar Finnish clothing brand. In August, Tokmanni Group closes the acquisition of Dollarstore, which has been described as one of the leading Swedish discounts retailers. At that time, Dollarstore had 130 Dollastore stores and two Big Dollar stores. In September 2023, Tokmanni acquires the business of the Villen Kauppa grocery store in Ylöjärvi, Finland. The Villen Kauppa business transfers to Tokmanni on 1 January 2024. In November, Tokmanni’s new Moreeni logistics centre is completed in Mäntsälä, Finland.
• 2025 Tokmanni Oy enters into an agreement with SPAR International on 14 January 2025. Tokmanni will be granted a license to operate the SPAR brand exclusively in Finland. The opening celebrations of the first EUROSPAR supermarket takes place in Ylöjärvi in June 2025.