Axfood has acquired 100% of City Gross for 2 billion SEK, aiming to enhance its market position and profitability in the Swedish grocery sector.
Information on the Target
City Gross Sverige AB, a prominent player in the Swedish grocery retail market, has been a significant entity within the sector. With a focus on providing high-quality products and excellent customer service, City Gross seeks to maintain a competitive edge in the supermarket segment. The recent acquisition by Axfood aims to leverage this established brand while enhancing operational efficiencies and market presence.
Prior to this acquisition, Axfood held a 9.9 percent stake in City Gross, enjoying shared control through a strategic collaboration covering various operational areas including logistics and product offerings. With the consolidation of ownership, Axfood plans to drive City Gross towards profitability by 2026, implementing initiatives to strengthen its market position further.
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Industry Overview in Sweden
The grocery retail industry in Sweden has undergone significant transformation, characterized by increased competition and changing consumer preferences. The sector is witnessing a trend towards consoli
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Axfood
invested in
City Gross Sverige AB
in 2024
in a Buyout deal
Disclosed details
Transaction Size: $190M