Bakkavör
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| Bakkavör Group hf. | |
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| Type | Public (OMX: BAKK) |
| Founded | 1986 |
| Headquarters | Reykjavík, Iceland |
| Key people | Ágúst Guðmundsson (CEO), Lýdur Guðmundsson (Chairman of the board) |
| Industry | Food processing |
| Products | ready meals, soups, sauces, prepared fruits, vegetables and salads, breads, sandwiches, desserts |
| Revenue | £1.470 billion (2007)[1] |
| Profit | ▲ £47.4 million (2007)[1] |
| Employees | 18,000 (2007)[1] |
| Website | www.bakkavor.com |
Bakkavör Group hf. is an Icelandic international food manufacturing company specialising in fresh prepared foods and produce.[2] The group operates 57 factories and employs over 20,000 people in nine countries with a pro-forma turnover in 2007 of £1.5 billion. The group’s head office is in Reykjavík. The company is listed on the Iceland Stock Exchange under the ticker BAKK, and is a constituent of the OMX Iceland 15 index.
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[edit] History and markets
Bakkavör Group was founded in 1986, and today makes over 6,000 products in 17 product categories, which are developed and sold predominantly under its customers’ own brands. It is the largest provider of fresh prepared foods and produce in both Iceland and the United Kingdom, and has business operations in Belgium, China, Czech Republic, France, South Africa and Spain.[3] Lysekils of Bakkavör Sweden AB has a Royal Warrant from the Swedish Royal Family.
On 31 January 2008 Bakkavör entered the United States by acquiring Californian fresh and frozen prepared foods provider, Two Chefs on a Roll.[4]
[edit] UK operations
The United Kingdom is Bakkavör's largest market by turnover, operating three subsidiaries in the UK employing 2,500 people. The company’s operations are based mainly in London and Birmingham, divided into four categories: chilled ready meals, chilled meal accompaniments, chilled ethnic snacks, chilled dips, dressings and sauces. Laurens Patisseries in Newark-on-Trent claims to be the largest cream cake manufacturer in the UK. On 13 May 2005, Bakkavör acquired UK fresh prepared foods group Geest.[5]
90% of Bakkavör's products are sold to multiple retailers (eg: Asda, Marks & Spencer, Morrisons, Sainsbury's, Somerfield, Tesco, Waitrose), with remaining sales to foodservice providers, hospitals, care homes and schools.[6]
[edit] References
- ^ a b c Annual Report 2007. Bakkavör. Retrieved on 2008-03-19.
- ^ Bakkavör. Hoovers. Retrieved on 2008-03-12.
- ^ Bakkavör, about. Bakkavör. Retrieved on 2008-03-12.
- ^ Bakkavor Group Enters US Market with Acquisition of Californian Fresh Prepared Foods Provider. Flex News Food (1 February, 2008). Retrieved on 2008-03-12.
- ^ Bakkavör. Just Food. Retrieved on 2008-03-12.
- ^ Bakkavör, customers. Bakkavör. Retrieved on 2008-03-12.
[edit] External links
- Group website in English
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