Axfood acquires Vi store in Solna

Axfood today signed an agreement to acquire the Vi store in Solna Centrum, with total sales of approximately SEK 120 m and some 40 employees. Takeover is expected to take place in April 2008, at which time the store will be converted to Hemköp.

“This acquisition is entirely in line with our strategy of strengthening our position in the Stockholm market,” says Anders Strålman, President and CEO of Axfood. “The store in Solna Centrum is in a key area in Solna, where Axfood currently has a weak presence. The strategic location and the new construction that is planned in the area give the store favourable prospects for future development.”

The store has total floor area of approximately 1,280 square metres. Following the takeover, the store will be able to offer customers a rich selection of fresh products, appealing ready-made foods and a broad selection of fruits and vegetables. The store’s employees will be offered employment with Hemköp.

“The location in Solna Centrum is a perfect fit for a Hemköp store,” says Per Uebel, President of Hemköp. “Considering that our head offices are located in Solna, it feels particularly urgent to show people in Solna what we can offer.”

Takeover of the store is planned to take place in April 2008 and is conditional upon approval by the Competition Authority without any further action. The parties have agreed not to publicize the purchase price for commercial reasons.