Swedish retailer Axfood has said it has acquired the Vivo Mariehallen and Vivo Plus stores, which have combined net sales of SEK310m (US$46.1m), in order to strengthen its presence in Stockholm.
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The stores will be taken over early next year and will be converted to Axfood’s Hemköp banner.
Vivo Mariehallen, which is the Vivo Group’s second-largest store, is located in Stockholm’s Södermalm district, and Vivo Plus is located in Stäket, Järfälla. After the takeover Hemköp will have 11 stores in Stockholm.
“This is yet another deal that is entirely in line with Axfood’s strategy of strengthening its position in the Stockholm market,” said Anders Nyberg, head of business development at Axfood.
In September 2004 Vivo Stockholm announced its intention to change wholesaler from Dagab (Axfood’s wholesale operation) to rival Bergendahls during the first quarter of 2005.
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By GlobalDataAxfood has therefore recently acquired four Vivo stores and entered into a cooperation agreement with Vivo Matboden in Rissne, which will be converted to Hemköp. Through these acquisitions and cooperation arrangements, Axfood said Dagab has recovered 15%-20% of the sales that were expected to be lost as a result of Vivo’s change of wholesaler.
