Historic bid in place: ICA now ready for next phase

Stockholm / SE. (ica) Since January 14, 2022, ICA Gruppen is an unlisted player in the grocery industry again. This after a historic bid and eight years on the stock market – Sweden’s ICA Gruppen AB explains in a statement. According to that, on 10 November, the ICA retailers’ association together with AMF announced a public takeover offer to all 70,000 shareholders of ICA Gruppen. Just two months later, a deal valuing ICA Gruppen at over SEK 100 billion is in place and the Gruppen’s share is de-listed from Nasdaq Stockholm.

«This is a historic day as we are delighted to announce that we have completed a successful deal. As of now, ICA is moving on to the next phase and we feel confident that this is the right environment for us to face future challenges and increasingly tough competition,» says Göran Blomberg, CEO of the ICA Retailers’ Association. The focus will now be on continued long-term investment, growth, increased internal dialogue and accelerating the pace of decision-making. ICA Gruppen will continue to be an independent company with its own board and management.

«I am proud of our merchants and all those involved who have contributed to making this possible. The new ownership structure will benefit ICA in a 100-year perspective. We have a responsibility to develop the whole of ICA for future generations, every day, and this will help us to be in time for the future,» says Magnus Moberg, Chairman of the ICA Retailers’ Association.

14 January also marked the start of the ICA Retailers’ Association’s regional district annual meetings, where ICA retailers will be updated on plans for 2022 and elect their elected ICA retailers as members of the district boards, among other things. The ICA Retailers’ Association is the membership organisation for Sweden’s ICA retailers and the majority owner of ICA Group.