Completion of the purchase of shares in Samkaup
Orkan has completed its acquisition of Samkaup, following approval from the Icelandic Competition Authority. The transaction, initially disclosed to the stock exchange on May 22 upon signing of the agreements, has now met all conditions as outlined in the original notification.
As part of this development, companies affiliated with SKEL hf.—active in retail, automotive services, and pharmaceuticals—have been consolidated under a newly established holding company, Drangar hf. This entity will serve as a robust platform and compelling alternative for consumers across Iceland.
Drangar hf. brings together well-established consumer brands, including:
- Orkan: Operator of 73 fossil fuel and fast-charging self-service stations nationwide
- Löður: Car wash stations
- Lyfjaval: Pharmacy operations
- Samkaup: One of Iceland’s largest retail chains, encompassing:
- Nettó
- Krambúðin
- Kjörbúðin
- Iceland
- 10–11
- Prís
- The e-commerce platform Heimkaup
In total, Drangar now operates 161 service locations across all regions of the country. Combined revenues of the merged entities reached approximately ISK 75 billion in 2024.
Drangar will focus on delivering streamlined, cost-efficient, and operationally effective services across all business units. Key priorities include maintaining strong and distinct brand identities, offering a competitive range of goods and services, and placing customer satisfaction at the forefront.
The company has set its sights on both organic and inorganic growth, with the strategic objective of pursuing a public listing on the Nasdaq Iceland main market by the end of 2027.
Auður Daníelsdóttir has been appointed CEO of Drangar hf., continuing her successful leadership trajectory from Orkan. Her experience and strategic direction will be instrumental in driving Drangar’s next phase of growth.
SKEL hf. holds a 68.3% ownership stake in Drangar hf., as previously disclosed to the market. Over recent years, SKEL has actively developed and positioned a strong contender in the Icelandic retail landscape—aimed at providing a competitive alternative to the market’s two dominant players.
Statement from Auður Daníelsdóttir, CEO, Drangar hf.:
“It is an honour to be part of the establishment of Drangar hf. and to contribute to the ongoing success of Samkaup. The company has a long-standing presence, exceptional staff, and a loyal customer base throughout Iceland. This acquisition presents a compelling opportunity to build a unified operating model that delivers a comprehensive and customer-centric solution. Our journey ahead is clear—prioritizing employee and customer satisfaction while ensuring operational efficiency through smart and simple solutions. We look forward to introducing new offerings to consumers as we expand our presence in the grocery retail market.”
