ICA Gruppen

ICA Gruppen AB is a Swedish retail group built around the ICA grocery franchise. Its roots lie in a purchasing and cooperation model introduced by Hakonbolagen in 1917 and formalized through the creation of Inköpscentralernas aktiebolag in 1938. Rather than operating every shop as a conventional centrally owned chain, ICA has historically combined coordinated procurement, logistics, branding and retail support with individually owned and operated stores. This franchise-oriented structure remains central to the group’s identity and distinguishes ICA from more centralized supermarket operators. The group’s principal business is food retail in Sweden. ICA Sverige supports a large network of stores with different formats and customer missions. ICA Nära serves neighborhood and convenience needs; ICA Supermarket provides a broader everyday grocery assortment; ICA Kvantum is designed for larger planned shops; and MAXI ICA Stormarknad combines extensive grocery ranges with, depending on location, homewares, clothing, entertainment, consumer electronics, do-it-yourself products and gardening. The stores are locally operated but use common ICA branding, private-label products, purchasing systems and distribution infrastructure. As of February 2025, ICA Sverige operated close to 1,300 stores, with major logistics centers in Västerås and Helsingborg. ICA Gruppen has expanded beyond grocery retail into adjacent consumer and service categories. Apotek Hjärtat, acquired in 2015, is a nationwide Swedish pharmacy chain with close to 400 shops as of February 2025. ICA Banken provides banking products in Sweden and works through agency arrangements with almost all ICA stores. Its strategic purpose has included lowering financial costs for participating stores, strengthening customer loyalty and increasing the use of ICA’s own payment cards. ICA Fastigheter, or ICA Real Estate, owns, leases and develops commercial properties and marketplaces to support the group’s retail network; the 2024 annual-report material describes approximately 200 properties held wholly or through joint ventures. The group has also operated internationally, particularly through Rimi Baltic in Estonia, Latvia and Lithuania. Rimi Baltic operated approximately 300 supermarkets and hypermarkets before its announced sale to Denmark’s Salling Group in June 2025 for €1.3 billion. ICA’s international and adjacent-business history also includes former activities in Norway, Denmark, fuel retailing and home textiles. The Norwegian operation was sold to Coop Norge in 2014, while the home-textile business Hemtex was fully acquired in 2015 and sold to Norway’s Kid ASA in 2019. ICA’s public identity has been reinforced by a long-running advertising series depicting employees and customers at a fictional ICA store. Begun in December 2001, the campaign became one of the longest-running advertising dramas in television history and a recognizable part of Swedish popular culture. At the same time, the group has faced reputational challenges, most notably the 2007 disclosure of alleged illegal meat repackaging and expiry-date manipulation at some Swedish stores. The controversy prompted scrutiny of food-safety controls and managerial oversight. Ownership changed substantially during the company’s corporate history. Participating retailers owned ICA until 2000, when half of the company was sold to Dutch retailer Ahold. Ahold acquired an additional 10 percent in 2004 but was contractually restricted from exercising majority control. In February 2013, Ahold sold its stake to Hakon Invest for approximately $3.1 billion. Hakon Invest changed its name to ICA Gruppen in May 2013. In late 2021, ICA-handlarnas Förbund and AMF Pensionsförsäkring announced a public offer for all shares. After the buyers obtained more than 90 percent of the shares, ICA Gruppen was delisted from Nasdaq Stockholm in January 2022. ICA remains an active Swedish retail group, although its portfolio continues to evolve t…

ICA Gruppen developed from a cooperative purchasing concept associated with Hakonbolagen, whose business model was introduced in 1917. In 1938, the model was institutionalized through Inköpscentralernas aktiebolag, the Purchasing Centres Corporation. The organization supported independent retailers by coordinating purchasing and operations while allowing stores to retain local ownership and decision-making. This combination of common systems and entrepreneurial store operators became the foundation of the ICA format. For much of its early history, ICA was owned by the participating retailers. The group gradually broadened its commercial footprint while maintaining food retail as its core. Its Swedish stores evolved into several formats tailored to different locations and shopping occasions: small neighborhood shops, standard supermarkets, larger planned-shop stores and MAXI hypermarkets. The largest MAXI locations extended beyond food into general merchandise and household categories. A major ownership change occurred in 2000, when half of ICA was sold to Dutch retailer Ahold. Ahold purchased a further 10 percent in 2004, although contractual arrangements prevented it from exercising majority control. In February 2013, Ahold sold its interest to Hakon Invest for approximately $3.1 billion. Hakon Invest subsequently changed its name to ICA Gruppen in May 2013, aligning the corporate identity with the retail group’s best-known consumer brand. ICA’s expansion beyond Swedish grocery retail included operations in the Baltic states, Norway, Denmark and several adjacent sectors. Rimi Baltic became a wholly owned subsidiary operating supermarkets and hypermarkets in Estonia, Latvia and Lithuania. In Norway, ICA operated a substantial multi-format network, including RIMI and ICA-branded stores, before selling the business to Coop Norge in 2014. Competition-authority requirements resulted in 93 stores being sold to other competitors. ICA also withdrew from or sold earlier ventures such as its Danish ISO stake, its joint venture with Netto Sweden and its shared Scandinavian fuel-retailing business with Statoil. Hemtex, a Swedish home-textile retailer that became partly owned in 2009 and wholly owned in 2015, was sold to Kid ASA in 2019. The group added significant Swedish health and financial-service activities. It acquired Apotek Hjärtat in 2015, creating a major pharmacy business alongside food retail. ICA Banken was developed as a banking operation serving customers and participating retailers, with store-based agency relationships and payment products intended to support loyalty and reduce transaction costs. ICA Real Estate owns, leases and develops properties and retail marketplaces needed by the wider group. This portfolio strategy linked stores, financial services, pharmacies and property rather than treating grocery retail as an isolated business. ICA’s brand communication became unusually prominent through a television advertising series launched in December 2001. The commercials portray recurring staff and customers in a fictional ICA shop. By mid-January 2015, 512 commercials had reportedly aired, and the campaign had been recognized by Guinness World Records as the longest-running television advertising drama since its listing in 2007. The campaign helped turn ICA’s store environment and employees into a distinctive national brand asset. The company also faced a major food-quality controversy in 2007. A former quality-control manager alleged that managers had known since 2003 about practices at some stores involving the repackaging of meat and the changing of expiry dates. The matter was exposed through Swedish investigative television and became a prominent test of ICA’s quality controls, decentralized franchise model and accountability mechanisms. In 2021, ICA invested in automated online-grocery fulfillment by opening a warehouse in Brunna outside Stockholm, using Ocado technology. Later that year, ICA-handlarnas Förbund and AMF Pensionsförsäkring launched a public offer for all ICA Gruppen shares. After the offer holders controlled more than 90 percent of the shares, ICA Gruppen was delisted from Nasdaq Stockholm on 13 January 2022. The group therefore moved from a publicly traded structure to private ownership by the retailer association and pension investor. In June 2025, ICA announced the sale of Rimi Baltic to Salling Group for €1.3 billion, indicating a continued focus on its Swedish retail ecosystem and selected adjacent businesses.

• 2025

  Rimi Baltic sale announced

  [1]ICA Gruppenen.wikipedia.org

  ICA announced the sale of Rimi Baltic to Salling Group for €1.3 billion.

• 2022

  ICA Gruppen is delisted

  [1]ICA Gruppenen.wikipedia.org

  After the public offer holders exceeded 90 percent ownership, ICA Gruppen was delisted from Nasdaq Stockholm on 13 January.

• 2021

  Automated online-grocery warehouse opens

  [1]ICA Gruppenen.wikipedia.org

  ICA opened an automated online-grocery fulfillment warehouse in Brunna using Ocado technology.

• 2019

  Hemtex is sold to Kid ASA

  [1]ICA Gruppenen.wikipedia.org

  ICA Gruppen sold the Hemtex home-textile business to Norwegian home-textile retailer Kid ASA.

• 2015

  ICA acquires Apotek Hjärtat and Hemtex becomes wholly owned

  [1]ICA Gruppenen.wikipedia.org

  ICA acquired Apotek Hjärtat and completed its acquisition of the remaining Hemtex shares.

• 2014

  Norwegian retail business is sold to Coop Norge

  [1]ICA Gruppenen.wikipedia.org

  ICA sold its Norwegian operations to Coop Norge, with 93 stores required to be divested to other competitors.

• 2013

  Hakon Invest buys Ahold’s stake and adopts ICA Gruppen name

  [1]ICA Gruppenen.wikipedia.org

  Hakon Invest acquired Ahold’s shares for approximately $3.1 billion, then changed its corporate name to ICA Gruppen in May.

• 2009

  Hemtex becomes partly owned by ICA

  [1]ICA Gruppenen.wikipedia.org

  Swedish home-textile retailer Hemtex became a partly owned subsidiary of Hakon Invest, ICA’s predecessor corporate structure.

• 2007

  Meat repackaging controversy becomes public

  [1]ICA Gruppenen.wikipedia.org

  Investigative reporting brought allegations about meat repackaging and expiry-date manipulation at some stores to national attention.

• 2004

  Ahold increases its holding

  [1]ICA Gruppenen.wikipedia.org

  Ahold acquired an additional 10 percent interest, while contractual restrictions continued to prevent majority control.

• 2000

  Ahold acquires half of ICA

  [1]ICA Gruppenen.wikipedia.org

  Dutch retailer Ahold acquired 50 percent of ICA from the participating retailers.

• 1938

  Inköpscentralernas aktiebolag is established

  [1]ICA Gruppenen.wikipedia.org

  The organization later known as ICA was founded as Inköpscentralernas aktiebolag, or the Purchasing Centres Corporation.

• 1917

  Hakonbolagen introduces the purchasing-cooperation model

  [1]ICA Gruppenen.wikipedia.org

  The business model that later underpinned ICA was introduced by Hakonbolagen, emphasizing coordinated purchasing for independent retailers.

A Swedish, franchise-based retail ecosystem centered on food and everyday consumer needs, with adjacent pharmacy, banking and property businesses.

• Convenience grocery retail

  ICA Nära

  ICA Nära is ICA’s neighborhood-oriented format. These relatively small stores focus on convenient access and everyday purchases, serving local communities with core grocery and household ranges rather than the extensive assortment and large footprint associated with ICA’s superstores.

• Supermarket

  ICA Supermarket

  ICA Supermarket stores are medium-sized grocery locations positioned near residential areas, workplaces or major roads. They provide a broad everyday food assortment and are intended to balance convenience with more range than the smaller ICA Nära format.

• Large supermarket

  ICA Kvantum

  ICA Kvantum is designed for larger, planned shopping trips. Stores generally offer extensive grocery ranges and are typically located outside dense urban centers, where larger premises, vehicle access and parking support high-volume household shopping.

• Hypermarket

  MAXI ICA Stormarknad

  MAXI ICA Stormarknad is ICA’s broadest retail format. Alongside a full grocery offer, larger locations may include fashion, homewares, entertainment, consumer electronics, do-it-yourself and gardening departments. The exact non-food offer varies by store size and local market.

• Pharmacy · 2015

  Apotek Hjärtat

  Apotek Hjärtat is ICA Gruppen’s Swedish pharmacy chain, acquired in 2015. It provides prescription medicines, over-the-counter medicines, personal-care products and other health-related goods through a nationwide store network.

• Banking and payments

  ICA Banken

  ICA Banken provides banking and payment services in Sweden and uses agency relationships with nearly all ICA stores. Its model is connected to the grocery network, supporting customer loyalty and encouraging the use of ICA-linked payment products.

• Baltic grocery retail

  Rimi Baltic

  Rimi Baltic operated supermarkets and hypermarkets in Estonia, Latvia and Lithuania. The subsidiary had approximately 300 stores before ICA announced its sale to Salling Group in June 2025.

• 2007

  ICA meat repackaging controversy

  A former quality-control manager alleged that some ICA stores had repackaged meat and changed expiry-date information, and that company managers had been informed of the practices as early as 2003. The allegations were disclosed through the Swedish investigative program Uppdrag granskning and raised questions about food safety, franchise oversight and internal controls.

  Source

Read more

• 2001ICA television advertising series

  Sweden

  ICA launched a continuing television campaign in December 2001 featuring employees and customers at a fictional ICA store. The recurring characters and serialized storytelling made the campaign a durable part of Swedish popular culture. By mid-January 2015, 512 commercials had reportedly been broadcast.

  Outcome. The campaign became one of the brand’s most recognizable assets and was listed by Guinness World Records in 2007 as the longest-running television advertising drama.

  Source

• 2025

  Sell Rimi BalticM&A

  Background

  ICA continued to reshape its international portfolio while concentrating on its Swedish retail ecosystem and related businesses.

  Action taken

  ICA announced the sale of Rimi Baltic to Salling Group for €1.3 billion.

  Aftermath

  The transaction would transfer ICA’s Baltic supermarket and hypermarket operations to Salling Group.

  Announced transaction value. €1.3 billion (June 2025)

  Source

• 2021

  Open automated online-grocery warehouseProduct launch

  Background

  Online grocery demand required more scalable fulfillment infrastructure.

  Action taken

  ICA opened an automated warehouse in Brunna near Stockholm using Ocado Group technology.

  Aftermath

  The facility expanded ICA’s automated online-order fulfillment capabilities in Sweden.

  Source

• 2021

  Launch public offer for ICA GruppenM&A

  Background

  ICA-handlarnas Förbund and AMF Pensionsförsäkring proposed to acquire the publicly traded company and return it to private ownership.

  Action taken

  The parties announced a public offer for all ICA Gruppen shares and subsequently obtained more than 90 percent of the shares.

  Aftermath

  ICA Gruppen was delisted from Nasdaq Stockholm on 13 January 2022.

  Source

• 2015

  Acquire Apotek HjärtatM&A

  Background

  ICA sought to expand from grocery retail into the adjacent health and pharmacy market.

  Action taken

  ICA Gruppen acquired the Swedish pharmacy chain Apotek Hjärtat.

  Aftermath

  Pharmacy became a continuing component of ICA Gruppen’s Swedish consumer-services portfolio.

  Source

• 2014

  Exit Norwegian grocery retailM&A

  Background

  ICA’s Norwegian operation faced a difficult competitive position and regulatory conditions associated with the proposed transaction.

  Action taken

  ICA sold ICA Norge to Coop Norge. Competition-authority requirements resulted in 93 stores being sold to other competitors.

  Aftermath

  Coop stores absorbed most of the acquired network, while the required divestitures addressed competition concerns.

  Source

• 2013

  Acquire Ahold’s ICA stakeM&A

  Background

  Ahold decided to exit its investment in ICA, creating an opportunity for Hakon Invest to reunite the corporate structure with the ICA retail group.

  Action taken

  Hakon Invest acquired Ahold’s shares for approximately $3.1 billion and changed its name to ICA Gruppen in May 2013.

  Aftermath

  The corporate parent adopted the ICA Gruppen name and continued operating the ICA-centered retail portfolio.

  Purchase price. $3.1 billion (February 2013)

  Source

• 2000

  Sell half of ICA to AholdM&A

  Background

  ICA had historically been owned by its participating retailers and sought a changed ownership structure while retaining the cooperative retail model.

  Action taken

  The participating retailers sold 50 percent of ICA to Dutch retailer Ahold.

  Aftermath

  Ahold later increased its stake by 10 percent, but contractual provisions limited its ability to exercise majority control.

  Source

1. 1ICA Gruppenen.wikipedia.org