ICA Gruppen

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ICA Gruppen AB (Swedish pronunciation: [ˈîːka]; "ICA Group"), founded as Inköpscentralernas aktiebolag (lit. 'the Purchasing Centres' Corporation'), is a Swedish retailer franchise with a focus on food and health. The group also owns a bank, real estate division and a pharmacy chain. The company was started in 1938, based on a business model which was introduced by Hakonbolagen in 1917. Most of its operations are based in Sweden and the Baltic countries. The company was owned by the participating retailers until 2000 when half of the company was sold to the Dutch retailer Ahold. It acquired a further 10% in 2004. Ahold is prevented by contractual obligation from exercising majority control over ICA. In February 2013, Ahold sold its shares to Hakon Invest for $3.1bn. In May 2013, the company changed name from Hakon Invest AB to ICA Gruppen AB. In November 2021, ICA-handlarnas Förbund together with AMF Pensionsförsäkring AB announced a public offer to acquire all shares of ICA Gruppen. In December 2021, they held more than 90% of all shares and the company was delisted from the Nasdaq Stockholm stock exchange on 13 January 2022.