Baugur Group

The Baugur Group [ ' pøyɣʏr ] is an insolvent Icelandic capital investment company. Baugur is the largest private companies in Iceland. Core business of the holding company is the equity investment in retail chains, mainly in Scandinavia, the United Kingdom and the United States.

Baugur is involved worldwide to 4,300 stores with 70,000 employees. Work 75 managers and employees supporting an annual turnover of £ 9 billion for the Baugur Group.

  • 3.1 Iceland
  • 3.2 Worldwide

History

The present company was founded in 1998 by the merger of two Icelandic supermarket chains Bónus and Hagkaup. The Icelandic Baugur word meaning ring or circle.

Hagkaup

Hagkaup was founded in 1959 by Pálmi Jónsson in an old barn as a shipping company. The economic success came quickly, as the company was able to undercut the prices of traditional retailers. Soon a deal was in the barn decorated and 1967, the first supermarket in the east of Iceland Reykjavík.

Bónus

Opened in 1989, the Jón Ásgeir Jóhannesson the Icelandic discount supermarket chain Bónus with the first store in the capital Reykjavík. The rapidly growing company was able to open markets in Iceland within three years.

Takeover and merger

1993 acquired Hagkaup 50 % stake in Bónus. A year later, in 1993, a joint subsidiary was established for the purchase of goods under the name of Baugur.

1998 were merged Hagkaup and Bónus, as the joint holding company was Baugur. Jón Ásgeir Jóhannesson was CEO and president of the company. In the same year, the holding company was listed on the Icelandic Stock Exchange ICEX. 2002 the name was changed to Baugur Group, to represent the organizational structure of the company better. In 2003 the company was taken off the market after it acquired a majority share of a syndicate to Mundur and Kaupthing Bank.

Insolvency

On 4 February 2009 Baugur filed for bankruptcy.

Investments

Iceland

  • Bónus (supermarket )
  • Hagkaup (supermarket )
  • 10-11 ( retail)
  • Útilíf ( Sports)
  • Debenhams ( supply chain )
  • Topshop (Boutique )
  • Miss Selfridge (Boutique )
  • Dótabúðin ( Toy Store )
  • Stoðir ( financial services): 49.6 %
  • Húsasmiðjan ( DIY ): 45 %
  • Tæknival (IT services)
  • Kaldbakur ( investment company ): 24.76 %
  • 365 ( media company ): 30 %
  • Smáralind ( shopping center ): 20%
  • Alliance representative in Iceland
  • Dagsbrun ( Media and Telecom )

Worldwide

  • Woolworths Group plc ( department store ): 7 %
  • Goldsmiths ( Jewelry Center )
  • Julian Graves ( Health Products )
  • Big Food Group
  • Oasis (Boutique )
  • Karen Millen (Boutique )
  • Hamleys ( toy shop )
  • Somerfield ( Supermarket ): 3%
  • Coast ( Boutique)
  • Whistles (Boutique )
  • MK One value (Boutique )
  • Magasin du Nord department store: 83% ( with Straumur Investment Bank and B2B Holdings)
  • Illum ( department store )
  • Cheops (real estate ): 30 %
  • Merlin ( electronic trading )
  • Woodward ( Catering)
  • Shoe Studio Group (shoe retailer )
  • D' Angleterre (Hotel)
  • SMS ( supermarket)
Types of business entity Goldsmiths, University of London Wirtschaftsblatt
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