Iceland founder regains full ownership

Iceland founder regains full ownership

Executive chairman Sir Malcolm Walker CBE and chief executive officer Tarsem Dhaliwal have returned Iceland to full family ownerships after purchasing the entire shareholding of the company’s external investor Brait SE.

Brait’s shareholding in Iceland Topcp Limited represented 63.1% of the issued share capital.

“It is particularly satisfying to turn this new page in Iceland’s history just before the 50th anniversary of the opening of our first shop on 18 November 1970. Having started the business in partnership with a friend, I am delighted to have come full circle and own what are now more than 1,000 stores with another good friend in 2020,” said Sir Malcolm Walker CBE.

“Over the last half century we have had a series of external investors in our business but I have no hesitation in saying that Brait has been the best. They have been consistently understanding and supportive, and were friends as well as business partners. I am sure that friendship will endure, and Tarsem and I wish them every success in the future.”

Tarsem Dhaliwal added: “We are grateful to Brait for giving us this opportunity to take full ownership of Iceland. We have always been a genuine family business and it is not just Sir Malcolm and I but many of our colleagues who have children working for the company. We are totally committed to running and growing this business for the long term benefit of all our stakeholders and their families. “Sir Malcolm and I will always have the wellbeing of our 25,000 Iceland colleagues and five million customers close to our hearts and we very much look forward to Doing It Right for another 50 years as we begin this next exciting chapter in the Iceland story.”