Lars Nilsson: Axfood is the result of a merger in Sweden and therefore the Company was really formed back in the year 2000. And at that time, we brought in a new management team and we established a new strategy to take us through to 2005 and we new company. We are in operating in the food retail business where we have a market share in Sweden of 20%, a presence in Finland, with a market share of 10%.
TWST: Can you tell us a little about the competitive landscape in the food retail space within our current geographic scope?
Lars Nilsson: In Sweden there are three big players. The biggest is ICA with a market share of about 35%. Then there is a consumer group called Coop and Axfood, both with a market share of 20% each. In Finland, again we have a presence there but we are quite small at the moment with 10% market share. There are two big players in Finland – Kesko and a consumer group called S-Group - and two other players who are about the same size as Axfood.
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