Axfood and Vi stores agree on settlement

Axfood and the Vi stores have reached a settlement to their several year–old contract dispute. The settlement entails that Axfood will receive approximately SEK 100 million in compensation.

"I am pleased that we have now reached an agreement with the Vi stores to settle this dispute. We can now put this behind us and instead concentrate entirely on the continued development of our store concepts throughout the Group," says Anders Strålman, President and CEO of Axfood AB. Under the settlement, Axfood has undertaken to work for the transfer of all leases to the individual grocers in the stores that are affected. All legal disputes between the parties are being dismissed. The co-operation agreements between Axfood and the individual grocers will cease to be in effect, and the right to the Vivo brand will be transferred to Vi-butikerna ekonomisk förening. The financial settlement under the agreement entails the payment of approximately SEK 100 million in compensation from Vi-butikerna ekonomiska förening to Axfood. For further information, please contact: Lars Nilsson, Executive Vice President and CFO, Axfood AB, +46-705-69 66 33 Cecilia Giertta, Head of Corporate Communications, Axfood AB, +46-705-93 64 08 Kenneth Wall, Director of Media Relations, Axfood AB, +46-703-124 122