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ICA into ISO

Press Release   •   Jun 08, 2000 16:06 CEST

The Swedish supermarket chain ICA is coming to Denmark following the acquisition of a 50% stake in ISO, the Danish chain.

ICA's Managing Director, Svante Nilsson, says that ICA has been looking for an opening in Denmark for some time.
"The partnership with ISO is, therefore, an important step towards strong expansion in Denmark," he adds.
ICA, which also holds a stake in Norway's second largest chain, Hakon, has close ties with the world's number two, Ahold. ICA has a presence in the Danish market through its co-operation with Statoil.
Even before this new partnership within the Danish retail sector, ICA/Ahold is Arla Foods' largest single customer.
ICA's partnership with ISO means that a joint company will own the ISO chain. The 11 ISO stores will continue under the existing name. Its two owners, Niels Jørgen Soldbro and Peter Midtgaard will continue as Managing Director and Finance Director respectively.