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Retail

NorgesGruppen Acquires Majority Stake In Dollarstore

NorgesGruppen has acquired 51% of Dollarstore to become the majority owner of the business, with founders Gudmundur As Birgisson and Sigurbjørg Sigurbjørnsdottir owning the rest.

Established in 2019, Dollarstore is a new discount chain that offers a wide range of products in the Norwegian market.

In includes goods in categories, such as house and home, personal care, hobbies, washing and cleaning, leisure, as well as chocolate and snacks.

These categories are in demand across the country and are offered in various chains in Norway and the border shops in Sweden, the retailer noted.

Runar Hollevik, CEO of NorgesGruppen, said, "The collaboration with Dollarstore gives us an opportunity to build new and broader expertise in non-food.

"This is an exciting entrepreneurial company that offers a range that we see hits well among people. We see great potential in further developing existing offers together with the founders of the company and creating even greater competition in the market."

Read More: Norway's NorgesGruppen Sees Market Share Up At Kiwi, Meny

Varied Product Range

NorgesGruppen is placing a large emphasis on offering goods to various consumer groups and shopping situations.

With its recently launched wholesale chain Gigaboks,  NorgesGruppen looks to offer goods for the extended family.

With Dollarstore, the group stated that it will attempt to further develop goods for the home for most groups of people, and in the long run, to integrate Dollarstore as a national low-price chain within non-food in NorgesGruppen.

Founder Gudmundur As Birgisson, added, "I am really looking forward to growing and developing Dollarstore together with NorgesGruppen. Together we will create a new low-cost adventure in Norway."

Dollarstore operates two stores in Greenland, one at Furuset in Oslo and one in Grimstad. In addition, its sells its goods online.

© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.

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