Who owns Iceland? British family owned food store

The average annual food bill could increase from £271 for UK buyers, says research firm Kantar.

As the cost of living continues to rise, more shoppers are feeling the pressure and turning to popular discount retailers like Aldi and Iceland. Food prices are rising due to supply chain problems caused by Russia’s invasion of Ukraine.

Iceland recorded the lowest percentage of total grocery sales over a 12-week period leading up to April 17, 2022, Kantar found. Iceland had a 2.2% growth while Tesco recorded the largest increase in market share with 27.3%.

Read more: Tesco joins Iceland, Morrisons and Waitrose to introduce ration on item

Fraser McKevitt, head of retail and consumer insights at Kantar, said mentioned : “The average household will now be exposed to an additional potential of £271 per year.

“Much of this is happening on non-discretionary everyday essentials that will prove difficult to cut back as budgets get tight. We are seeing a clear flight to value as shoppers watch their pennies.”

Who owns Icelandic food?

Iceland Foods is once again owned by a British family after Sir Malcolm Walker and Icelandic CEO Tarsem Dhaliwal bought out the company’s last remaining external shareholder, investment firm Brait SE. Walker is the founder and executive chairman of Iceland.

He first led the management buy-out with three external shareholders in March 2012 to £1.45 billion. Then, in June 2020, Walker partnered with CEO Dhaliwal to complete taking over ownership of Iceland Foods.

Since then, Iceland Foods has taken initiatives including an online business, the nationwide launch and expansion of The Food Warehouse, a new store format and partnerships with The Range. The store has also entered into supply agreements with brands such as Greggs, TGI Fridays and Slimming World.

Where is Iceland based?

Iceland Foods Limited is a British supermarket chain headquartered in Deeside, Flintshire, North Wales. The store focuses on selling frozen foods such as ready meals, also known as microwaveable meals, and frozen vegetables.