Baugur Group
| Baugur Group | |
|---|---|
| legal form | AG |
| founding | 1998 |
| Seat | Reykjavík , Iceland |
| management |
Gunnar Sigurðsson (CEO) Jón Ásgeir Jóhannesson (Executive Chairman) |
| Branch | Investment / retail |
The Baugur Group [ 'pøyɣʏr ] was an Icelandic private equity firm . Before it went bankrupt in 2009, Baugur was Iceland's largest private company. The holding company's core business was equity stakes in retail chains , mainly in Scandinavia , the United Kingdom and the United States .
Baugur was with July 2008 worldwide 4,300 retail stores with about 70,000 employees and an annual turnover of 9 billion pounds involved .
history
The company was created in 1998 through the merger of the two Icelandic supermarket chains Bónus and Hagkaup . The Icelandic word baugur means ring or circle .
Hagkaup
Hagkaup was founded in 1959 by Pálmi Jónsson as a shipping company in an old barn. Economic success came quickly, as the company was able to undercut the prices of traditional retailers. Soon a shop was set up in the barn and in 1967 the first supermarket in Iceland in East Reykjavík.
Bonus
In 1989 Jón Ásgeir Jóhannesson opened the Icelandic discount supermarket chain Bónus with the first store in the capital Reykjavík . The rapidly growing company was able to open stores across Iceland in three years.
Takeover and merger
In 1993 Hagkaup acquired 50% of the shares in Bónus. A year later, in 1993, a joint subsidiary for purchasing goods was founded under the name Baugur .
In 1998 Hagkaup and Bónus were merged, and Baugur was created as a joint holding company . Jón Ásgeir Jóhannesson became CEO and President of the company. In the same year, the holding company was listed on the Icelandic stock exchange ICEX . In 2002 the name was changed to Baugur Group in order to better represent the organizational structure of the company. In 2003 the company was taken off the stock exchange after the majority of the shares had been acquired by a syndicate led by Mundur and Kaupthing Bank .
insolvency
On February 4, 2009, Baugur filed for bankruptcy.
Holdings
Iceland
- Bónus (supermarket)
- Hagkaup (supermarket)
- 10-11 (retail)
- Útilíf (sporting goods)
- Debenhams (chain of goods)
- Topshop (boutique)
- Miss Selfridge (Boutique)
- Dótabúðin (toy shop)
- Stoðir (financial services): 49.6%
- Húsasmiðjan (hardware store): 45%
- Tæknival (IT services)
- Kaldbakur ( investment company ): 24.76%
- 365 (media company): 30%
- Smáralind (shopping center): 20%
- Allianz agency in Iceland
- Dagsbrún (media and telecommunications)
Worldwide
- Woolworths Group plc (department store): 7%
- Goldsmiths (jewelry chain)
- Julian Graves (Health Products)
- Big Food Group
- Oasis (boutique)
- Karen Millen (Boutique)
- Hamleys (toy store)
- Somerfield (supermarket): 3%
- Coast (boutique)
- Whistles (boutique)
- MK One value (boutique)
- Magasin du Nord department store: 83% (with Straumur Investment Bank and B2B Holdings )
- Illum (department store)
- Keops (real estate): 30%
- Merlin (electronics trade)
- Woodward (Catering)
- Shoe Studio Group (shoe retailer)
- D'Angleterre (Hotel)
- SMS (supermarket)
Individual evidence
- ↑ About Baugur Group ( English ) Baugur. Archived from the original on July 5, 2008. Retrieved September 19, 2017.
- ↑ Iceland's largest corporation insolvent: Baugur before the end ( Memento from February 6, 2009 in the Internet Archive ), WirtschaftsBlatt , February 4, 2009