Frozen food retailer Iceland Foods has teamed up with investment company Skel to distribute the supermarket’s products in several Nordic countries.
The British supermarket has set up a joint venture, known as Ice JV ehf, to sell its products in Denmark, Sweden, Norway and Finland.
Tarsem Dhaliwal, group chief executive of Iceland Foods, stated, “Bringing Iceland Foods’ products to the Nordic market was a natural step in our growth.
“It’s a region associated with knowing a thing or two about quality frozen food and through our partnership with Ice JV ehf, we’ll be able to build a strong wholesale foundation which will expand our reach to new customers and showcase the Power of Frozen across the region.”
Sir Malcom Walker CBE, founder of Iceland Foods and trustee of Iceland Foods charitable foundation, and Jon Asgeir Johannesson, chair of Skel, have worked together for 20 years, the company noted.
Johannesson led Baugur’s acquisition of the UK Big Food Group, Iceland’s holding company, in 2005.
'A Strategic Investor'
Ásgeir Helgi Reykfjörð Gylfason, CEO of Skel added, “SKEL aims to be a strategic investor through collaboration and partnership where our expertise and know-how advances our partners´ interests.
“Nearly one-third of our investments are in companies operating in the consumer market where we observe trends and movements closely.”
Gylfason added that the partnership with Iceland Foods is a "significant milestone" for Skel as it will help the company expand its presence in the grocery retail sector.
“This joint venture represents our commitment to take full advantage of opportunities by bringing high-quality and trusted products to new markets, combining Skel's operational strength with the well-known brand of Iceland Foods,” Gylfason added.
