STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Axfood Sverige AB (STO:AXFO) and Statoil Fuel & Retail Sverige AB have signed a Letter of Intent to extend and expand their existing cooperation agreement.
The parties intend to reach an agreement to extend the existing cooperation agreement on the supply of newsstand and food retail products to Statoil's staffed service stations. In addition, the agreement is intended to cover expanded cooperation on an offering of ready made meals. The agreement is intended to have a term of 5 years and 9 months.
Looking back on 2012, we see a successful cooperation and are very proud that Statoil Fuel & Retail Sverige AB intend to give us their continued and expanded long-term confidence as their business partner," says Nicholas Pettersson, Divisional Manager for Axfood Närlivs. "Through such a partnership we will be able to develop our services and thereby further raise the level of quality we provide to all of our customers in the Swedish convenience retailing market."
Axfood AB conducts food retail and wholesale business in Sweden. Retail business is conducted through the wholly owned store chains Willys, Hemköp and PrisXtra, comprising 246 stores in all. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements. These include stores within the Hemköp and Willys chains as well as stores run under the Handlar’n and Tempo profiles. In all, Axfood collaborates with approximately 820 proprietor-run stores. Wholesaling is conducted through Dagab and Axfood Närlivs. Axfood is listed on Nasdaq OMX Stockholm AB's Large Cap list. Axel Johnson AB is the principal owner, with 50,1% of the shares.
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