Acquisitions and divestments
Acquisitions and divestments
Below is a summary of Axfood’s most important acquisitions and divestments over the years.
Axfood is founded
The year 2000 was characterized by restructuring in several steps. The first step was the combination of Hemköp and D&D Dagligvaror. In the next step, Spar Sverige, Spar Inn Snabbgross and 40 percent of the share capital in Spar Finland were acquired. The Annual General Meeting in May resolved in favour of the name change to Axfood AB.
Divestment of real estate holdings
In April 2003, Axfood sold its Swedish real estate holdings to Crown NorthCorp Ltd (press release). The properties had a book value of approximately SEK 500 m, and the capital gain was SEK 110 m.
Acquisition of cold storage distribution centre
To increase its presence in Stockholm, Axfood acquired Reitan's cold storage distribution centre in Kungens Kurva. The operation was taken over in October (press release).
Ownership in Hall Miba and agreement with Vi Retailers Association
In 2011, Axfood acquired 50% of the whoesale company Hall Miba AB, a supplier of car care products and automotive accessories to service stations and retailers (press release).
In 2009, a cooperation was initiated between the Vi Retailers and Axfood. As a continuation of this, in 2011 the Vi Retailers Association resolved that the individual retailers would sign chain agreements with Hemköp, which resulted in the conversion of 43 Vi stores primarily in the Stockholm area to Hemköp franchise (press release).
Divestment of Netxtra
In 2012, Axfood divested its e-commerce site for consumers, Netxtra, to Mathem (press release). At the same time, product supply agreements were signed for Mathem’s e-commerce business in Stockholm.
Series of acquisitions
In 2017, through a series of acquisitions Axfood strengthened and broadened its portfolio.
The acquisitions of Mat.se (press release) and Middagsfrid (press release) increased the Group’s e-commerce presence; through Eurocash the Group took a strong position in cross-border shopping towards Norway (press release); and through Saba’s warehouse operation the Group shortened a link in the supply chain and increased efficiency (press release). During the year Axfood also invested in the startup of an online pharmacy, Apohem (press release).
Hemköp and Östenssons
In 2019, the nine stores of the Östenssons chain became franchise stores within Hemköp (press release).
Acquisition of Bergendahls Food and partnership with City Gross
In October 2021, following approval from the Swedish Competition Authority, Axfood acquired the wholesale business Bergendahl Food AB as well as a minority stake in City Gross Sverige AB as part of a strategic partnership (press release, press release, presentation of transaction, webcast from presentation of transaction). The acquisition creates economies of scale and synergies as well as benefits wholesale customers and consumers through increased efficiency and product range and logistics improvements.
Axfood new partner to Mathem
To strengthen the Group's position in the pure-play online retail segment, Axfood became the second largest owner of Mathem, in conjunction with the divestment of Mat.se to Mathem in exchange for newly issued shares in Mathem (press release, press release, brief presentation). A strategic partnership was also entered through a seven-year delivery and cooperation agreement between Dagab and Mathem.