Salling Fondene has acquired 100% ownership of Salling Group and has set a target to achieve an annual turnover of over DKK 100 billion (€13.4 billion).
The company was owned by A.P. Møller - Mærsk for more than 60 years, Salling Group noted in a statement.
Founded in 1906 by Ferdinand Salling, the company saw growth over the years under the leadership of his son, Herman.
Salling Fondene comprises two independent foundations: Købmand Herman Salling’s Foundation and Købmand Ferdinand Salling’s Memorial Foundation.
‘The Best Products And Solutions’
The CEO of Salling Group, Anders Hagh, stated, “Salling Group stands in a historic place in the decade of the buy-back from A.P. Møller - Maersk, where we have since professionalised the entire company and today stand financially stronger than ever. It obliges, and we are ready to raise the bar.
“We will continue what Herman Salling set as a goal – to offer customers the best products and solutions. We will do this by expanding further through ambitious acquisitions and by investing up to DKK 13 billion [€1.74 billion] in strengthening the core business at all levels. This is only possible because we run a financially sound company, which is precisely the prerequisite for us to be able to realise our new goals with an unprecedented high level of ambition over the coming years.”
Salling Seeds
Salling Group has also announced the launch of Salling Seeds, an innovation pool worth DKK 0.5 billion for investments in start-ups and small businesses focusing on technology, sustainability, and product development.
In addition to financial capital, the entrepreneurs can also gain access to the grocery group’s machine room and support to develop their particular businesses, the company noted.
The retail chain also seeks to consolidate its business in Denmark, Germany and Poland.
Currently, the company operates 1,746 stores in Denmark, Germany and Poland, and sales in 2023 amounted to DKK 70.3 billion (€9.4 billion).
