Swedish retailer Axfood has bought small Stockholm grocer PrisXtra for an undisclosed sum.

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The deal, announced yesterday (5 December), was described by Axfood CEO Anders Strålman as an “important step” for the company.


“The acquisition gives us a third store concept in addition to Willys and Hemköp and considerably strengthens our position in the Stockholm area with its high purchasing power,” Strålman said.


Family-owned PrisXtra, which generates annual sales of around SEK700m (US$108.6m), will operate as a separate company and CEO Magnus Lundin will stay on to lead the business.


Lundin said: “I am glad for PrisXtra’s sake. PrisXtra is currently Sweden’s most successful urban concept and the sale to Axfood gives PrisXtra enormous opportunities for future growth.”

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