Exista announced on Friday (11 August) that it has acquired an additional 87.88m shares in Icelandic food company Bakkavor, cementing the Icelandic investment company’s position as Bakkavor’s largest shareholder. The transaction totalled ISK4.5bn (US$63.5m).

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The deal raised Exista’s stake from 26.71% of the company to 30.83%. In total, the investment firm holds 662.25m shares at a market value of ISK33.8bn.


The Reykjavik-based food company specialises in fresh prepared foods. With a pro-forma turnover of GBP1bn (US$1.89bn) posted last year, Bakkavor operates 43 factories and employs 16,000 staff.

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact