Retail

Axfood Appoints Sandra Brånstad To Its Executive Committee

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Swedish retailer Axfood has announced the appointment of Sandra Brånstad to its executive committee, effective 1 February 2022.

She is an experienced professional with expertise in the field of business law.

Brånstad has served as the Axfood Group’s general counsel since 2018. She was associated with Axfood since 2007, in her role as a lawyer.

Before stepping in as Axfood’s general counsel, she was active as a lawyer for several years, with the most recent one as a partner at Ramberg Advokater.

'A Valuable Asset'

Klas Balkow, president and CEO of Axfood, said, “Sandra has been a valuable asset to the Axfood Group for several years and has played an important role in the large investments we have made, not least in logistics and acquisitions.

“With her drive for business and extensive knowledge and experience, she will be a valuable addition to the executive committee.”

The Swedish retailer recently announced a strategic partnership with online grocery retailer Mathem and has agreed to divest the operations of Mat.se to Mathem i Sverige AB (Mathem) in exchange for newly issued shares in Mathem.

The deal is valued at approximately SEK 688 million on a cash and debt-free basis and the valuation of Mat.se is in line with the valuation of Mathem, Axfood said.

In October of last year, the company reported good profitability despite high comparison figures in the third quarter of its financial year, with net sales increasing by 2.2% year-on-year, amounting to SEK 13.7 billion (€1.37 billion), with store sales increasing 0.7% to SEK 11.6 billion (€1.16 billion).

© 2022 European Supermarket Magazine. Article by Dayeeta Das. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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