The sole ownership of Dansk Supermarked Group has been transferred to Salling Funds, after the group purchased remaining shares from AP Møller-Mærsk.
The two organisations have owned the retail group in partnership for over 50 years, but AP Moller-Maersk has now transferred its 19% stake to Sallings Fund, which consists of Merchant Herman Sallings Fund and Merchant Ferdinand Sallings Mindefond.
"I would like to thank AP Møller - Mærsk for excellent ownership for more than five decades and to back up our ambition to create a world-class Danish retail business," said Jens Bjerg Sørensen, chairman of Merchant Herman Sallings Fund.
The company says that fund ownership means the profits of the retail group will now only be used for investment back in the business, and for charitable donations.
The final transfer of ownership marks the end of a collaboration that began in 1964, when Dansk Supermarked Group's founder, Herman Salling, entered into partnership with AP Møller.
The transaction is expected to be completed by the end of 2017.
New Opportunities
"Dansk Supermarked Group will continue to run a financially strong company, focused on creating long-term value," said Per Bank, managing director of the group.
"At the same time, 100% fund ownership gives us new opportunities, and we are aware of our social responsibility and the ability we have to improve the everyday lives of our customers, collaborators and communities."
Dansk Supermarked Group operates the chains Føtex, Bilka, Netto, Salling and online marketplace wupti.com.
The retailer recently opened its 100th Føtex store in Denmark.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
