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Iceland Founder And CEO Regain Full Ownership Of Business

Published on Jun 9 2020 9:50 AM

Iceland Founder And CEO Regain Full Ownership Of Business

Iceland Foods has announced that it has returned to full family ownership through the purchase by its founder and executive chairman Sir Malcolm Walker and chief executive officer Tarsem Dhaliwal.

Walker and Tarsem Dhaliwal have bought Brait’s shareholding in Iceland Topco Limited, representing 63.1% of the issued share capital, through a newly established company which they wholly own, the frozen food retailer said.

Iceland Foods is now 100% owned by Walker, Dhaliwal and their related parties.

'New Page In Iceland’s History'

Commenting on the move, Walker said that 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.'

Dhaliwal added: "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," he added.

Iceland now employs over 25,000 staff, across its 1,000 store network in the UK and Ireland.

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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