Greta María hired to build and lead a new force in the retail market

Gréta María Grétarsdóttir has been appointed CEO of Heimkaup. Gréta María has a lot of experience in retail operations.

The operation of Heimkaup will be in a modified form, as all units related to Orkan's commercial operations will be sold to Heimkaup.

This includes:

• 9 stores under the brands 10-11, Extra and Orkan
• 7 Lyfjaval pharmacies, 4 of which have carports
• 8 bakery Braud & Co, 38% share
• Gló restaurant business as well as a stake in Clippers, which operates Sbarro

After the purchase of these business units, Heimkaup will be at the forefront of retail companies in Iceland that emphasize comfort for customers and flexibility in service. The combined turnover of all companies within the group is estimated at 11-12 billion this year, and the combined company will start operations on July 1, 2023. The largest shareholders of Heimkaup after these changes will be SKEL, Orkan, which is a subsidiary of SKEL, and Norvik.

Gréta María, new CEO of Heimkaup: "I am extremely proud to have the opportunity to lead this new force in the retail market that will be created by the merger of these companies. The brands are diverse and all have their strengths, and by bringing them under the same umbrella, it will be possible to achieve increased impact and efficiency. In the coming seasons, we will introduce exciting innovations to the retail market."

Jón Ásgeir Jóhannesson, chairman of the board of SKEL and board member of Heimkaup: "I believe that there are great opportunities in the retail market for a new player with a clear focus and a strong background. The company is supported by shareholders with a lot of experience in retail and retail operations, and we are planning big things with this company. It is great to have Gréta María join us with her experience and knowledge and gives us a lot under both wings. We want to increase competition, with the associated benefits for consumers."