STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Axfood Närlivs and EMAB have signed a declaration of intent to extend their existing cooperation until 31 December 2017.
The new cooperation agreement is expected to take effect on 1 January 2015.
“The cooperation with EMAB is one of our largest and longest collaborations. EMAB is entering an exciting development phase and we are delighted to have been entrusted, together with EMAB and their over 400 member stores, to develop our common business,” says Eva Pettersson, Divisional Director at Axfood Närlivs.
“We are pleased to be able to continue our long-standing cooperation with Axfood Närlivs when we now enter a new phase in the development of our Frendo and Gulf brands,” says Lennart Nilsson Chairman of EMAB.
Axfood AB conducts food retail and wholesale business in Sweden. Retail business is conducted through the wholly owned store chains Willys and Hemköp, comprising 254 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 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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