Maersk sells stake in Dansk Supermarked

The Salling Companies will gain control of the supermarket chains Netto, Føtex and Bilka

January 7th, 2014 10:39 am| by admin

After much speculation, the Maersk Group confirmed that they will sell its majority stake in Dansk Supermarked to the Salling Companies.

The sale of Dansk Supermarked – which owns the retail chains Netto, Føtex, Bilka and Salling – values the company at around 41 billion kroner and will net Maersk 14 billion kroner.

“We believe that the time is right for to A.P. Moller-Maersk to hand over ownership of Dansk Superkmarked to the Salling Companies. Over the last two years Dansk Supermarked has undergone a rejuvenation and has a strong future ahead of it," aid Nils S. Andersen, Group CEO. "A new management team is in place with plans to develop the business both here in Denmark and internationally."

READ MORE: Netto employee to dumpster divers: I pissed on your food

Salling take control
Salling was started in 1960 by Herman Salling and was originally called Jysk Supermarked before becoming Dansk Supermarked after becoming a joint venture with Mærsk.

The sale sees the Salling Companies – F. Salling Invest A/S and F. Salling Holding A/S – acquire 49 percent of the shares in Dansk Supermarked and 19 percent of the shares in F. Salling A/S.

This means that the Salling Companies will increase their ownership of Dansk Supermarked from 31 percent to 81 percent, while the Maersk Group’s share will decrease from 68 to 19 percent – the Salling Companies have the option to buy the remaining 19 percent in five years time.

READ MORE: Price war could usher in "new era" in grocery industry

“Our ambition for Dansk Supermarked is continued growth for the benefit of customers, employees and owners," Salling board member Jens Bjerg Sørensen said. "The agreement mitigates any speculation regarding ownership and allows us to focus entirely on the business and our ambition to create a world-class retail company."

The Salling Companies will pass on the new shares in Dansk Supermarked to the charitable organisation the Salling Fund, which was established by Herman Salling.

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