Petrol and diesel are unlikely to be on the shelves. But now the Danish energy company OK owns half of Coop.
Energy company OK has bought half of Coop, which is behind supermarket chains such as Super Brugsen, Kvickly and 365 Discount.
The partners write this in a press release .
As part of the agreement, DKK 2 billion will be injected into Coop's ailing economy. But it also means that OK's top people have influence over the operation of the supermarkets.
– With OK, Coop Danmark has found the right partner. OK has a strong economy, we both have roots in the cooperative movement.
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– And we already collaborate around OK's petrol and electric charging stations. In addition, OK comes with strong competences in grocery retailing, says Coop's managing director, Kræn Østergård Nielsen, in a press release.
For the agreement to go through, it must be voted on at Coop Amba's national fashion on 19 April. However, the new agreement also means that Kræn Østergård Nielsen will step down as CEO.
His replacement has already been found. However, for now only temporarily. It is Coop Danmark A/S's chairman of the board, Jeff Gravenhorst, who sits in the director's chair.
The Coop agreement comes after several years of poor finances at Coop. For example, the group behind the supermarkets came out of 2022 with a deficit of a whopping DKK 628 million.
The annual accounts for 2023 have not yet been made public. But it is already clear that you cannot expect 'a satisfactory result' here either.
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