Latest news with #Samkaup
Yahoo
a day ago
- Business
- Yahoo
SKEL fjárfestingafélag hf.: Underwriting of subscription for new share capital in the Orkan and Samkaup group
Reference is made to the press release dated 3 June 2025, which stated that certain conditions under the purchase agreement had been fulfilled regarding the acquisition by Orkan IS ehf. ('Orkan') of all shares held by Kaupfélag Suðurnesja ('KSK') in Samkaup, with a nominal value of ISK 221,386,719, corresponding to 51.3% of the share capital in Samkaup. The announcement also stated that Orkan had signed purchase agreements with other shareholders of Samkaup for the acquisition of all their shares in the company on the same terms as the transaction with KSK. Upon settlement of these transactions, Orkan would own approximately 96% of the issued share capital in Samkaup. Following the announcement, Orkan reached an agreement with another shareholder and will therefore hold over 98,5% of the company. Today, an agreement was reached with Íslandsbanki for the bank to provide an underwriting commitment for the subscription of new share capital in Orkan (or a new holding company for the group) amounting to at least ISK 2 billion. This capital is intended to strengthen the financial position of Samkaup. The underwriting commitment will remain valid for 180 days and can be used to market the new group to investors. Final documentation is to be completed by July 1st. At this point, all conditions of Orkan's purchase agreements with the shareholders of Samkaup have been fulfilled, except for approval from the Competition Authority confirming that the transaction does not constitute a merger that must be annulled or made subject to conditions under Article 17 of the Competition Act no. 44/2005. A merger notification has been submitted and is pending confirmation. Frekari upplýsingar veitir Ásgeir Helgi Reykfjörð Gylfason, fjarfestar@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
SKEL fjárfestingafélag hf.: Orkan signs share purchase agreement with over 90% of shareholders in Samkaup
Reference is made to the announcement dated 22 May 2025, stating that a share purchase agreement had been signed between Orkan IS ehf. ("Orkan"), as buyer, and Kaupfélag Suðurnesja ("KSK"), as seller, for all shares held by the seller in Samkaup, with a nominal value of ISK 221,386,719, representing 51.3% of Samkaup's share capital. The purchase price for the shares totals ISK 2,878 million, based on a total equity value of Samkaup of ISK 5,610 million, corresponding to ISK 13 per issued share. The announcement stated that the transaction was subject to the following conditions: That the merger of Samkaup and Atlaga ehf., pursuant to the merger agreement dated 20 February 2025, is completed; That binding subscription commitments from investors, or a firm underwriting by an Icelandic bank, for the subscription of new share capital in Orkan (or the new parent company of the group) amounting to at least ISK 2,000 million are in place, which shall be used to strengthen Samkaup's financial position; That Orkan has reached a binding agreement with other shareholders in Samkaup for the purchase of their shares in the company such that the combined ownership of Orkan and other entities affiliated with SKEL will amount to at least 90.01% following the transaction; Approval by the representative council of KSK; Approval by the Icelandic Competition Authority that the transaction does not constitute a merger that must be annulled or made subject to conditions under Article 17 of the Competition Act No. 44/2005. Orkan has now signed share purchase agreements with other shareholders in Samkaup for the acquisition of all their shares in the company, totaling ISK 193,174,944 in nominal value, on the same terms as the transaction with KSK. Upon settlement of these transactions, Orkan will hold approximately 96% of the issued share capital in Samkaup. The representative council of KSK has likewise approved the share purchase agreement between Orkan and KSK. Finally, the boards of Atlaga ehf. and Samkaup have signed all merger documents related to the merger of the two companies. The parties are jointly working to finalize the remaining conditions relating to investor subscription commitments or a bank underwriting in the amount of ISK 2,000 million and to complete the merger notification to the Competition Authority. For further information please contact Ásgeir Helgi Reykfjörð Gylfason, fjarfestar@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
SKEL fjárfestingafélag hf.: Orkan signs purchase agreement for shares in Samkaup
Following previous discussions between SKEL fjárfestingafélag hf. ('SKEL') and Samkaup hf. ('Samkaup') regarding a merger of Samkaup with Orkan IS ehf. ('Orkan') and Atlaga ehf. (formerly Heimkaup), further discussions took place with Kaupfélag Suðurnesja svf. ('KSK'), the largest shareholder in Samkaup, about resuming the dialogue under new terms. This past December, the parties reached an agreement on a merger between Atlaga and Samkaup, a transaction that received competition authority approval in April. Today, a purchase agreement was signed between Orkan as the buyer and KSK as the seller for all of the seller's shares in Samkaup, with a nominal value of ISK 221,386,719, representing 51.3% of Samkaup's share capital. The purchase price of the shares is a total of ISK 2,878 million and is based on a valuation of Samkaup's total equity value at ISK 5,610 million, which corresponds to ISK 13 per issued share. The transaction price implies a total enterprise value of ISK 9,606 million for Samkaup, based on its debt position at the end of the first quarter. The purchase price will be paid by delivering new share capital in Orkan. The value of Orkan's shares at the time of the settlement will be ISK 10,669 million, based on the book value of the company in SKEL's financial statements as of last year-end. Orkan also owns around 81% of Lyfjaval, which is recorded at ISK 1,928 million, as well as a share in Samkaup, resulting from the merger of Atlaga ehf. and Samkaup, which is valued at approximately ISK 545 million in this transaction. The agreement provides for the formation of a group structure similar to that of listed retail companies in Iceland. The group will initially operate in the fields of groceries, energy, car wash services, and pharmaceuticals, and these segments will be managed on a consolidated basis. The transaction is subject to the following conditions: Completion of the merger between Samkaup and Atlaga ehf. according to the merger agreement dated 20 February 2025; That binding subscription commitments from investors, or an underwriting by an Icelandic bank, are in place for a subscription to new share capital in Orkan (or the new parent company of the group) amounting to at least ISK 2,000 million, which is to be used to strengthen Samkaup's financial position; That Orkan has reached a binding agreement with other shareholders in Samkaup to purchase their shares such that the total holding of Orkan and other SKEL-related parties will amount to at least 90.01% after the transaction; Approval by the KSK supervisory council; Approval from the Competition Authority that the transaction does not constitute a merger that should be annulled or subjected to conditions pursuant to Article 17 of the Competition Act No. 44/2005. If the transaction materializes, the parties agree to work jointly towards revitalizing Samkaup and enabling it to grow in the consumer market, both through internal and external growth, and aim for a public listing of all shares in the group's parent company on the regulated market in Iceland before the end of 2027. Following the settlement of the transaction and the planned capital increase, SKEL's share in the group's parent company will be approximately 63%, with the estimated value of SKEL's stake amounting to ISK 13,500 million. Other shareholders of Lyfjaval will be offered the opportunity to participate in the transaction on the same terms as the above-mentioned deal, as will all other shareholders of Samkaup once the conditions are met. Ásgeir Helgi Reykfjörð Gylfason, CEO of SKEL: 'We are pleased to be one step closer to creating a new force in the Icelandic retail market. This aligns with the objectives we presented in our last financial report regarding the development of Orkan's group structure. Samkaup is a company with a long history and loyal customers across the country. SKEL will focus on streamlining operations, reducing costs, and putting the customer first. These priorities have proven successful in Orkan's operations. Samkaup and Heimkaup (now Atlaga ehf.) have faced challenges in their operations, but through the merger and operational restructuring, a strong market competitor will be formed.' Legal advisor to SKEL is BBA//Fjeldco and financial advisor is the corporate finance division of Fossa fjárfestingarbanki hf. Further information is available from Ásgeir Helgi Reykfjörð Gylfason, CEO, at fjarfestar@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Aisles Abroad: How an Icelandic grocer won shopper loyalty through gamification
This story was originally published on Grocery Dive. To receive daily news and insights, subscribe to our free daily Grocery Dive newsletter. Aisles Abroad is a regular feature that examines notable grocery initiatives outside the U.S. Groceries and games can be a winning combo for boosting customer loyalty, Samkaup, an Icelandic grocer, has found. Samkaup scored a big win with its recent addition of in-app games, like spin-to-win, that give loyalty members the chance to win free products as prizes when that week's game becomes available, said Gunnur Líf Gunnarsdóttir, executive director of retail operations at Samkaup. Samkaup recorded 78,204 game attempts from December 2024 to January 2025, with 3,581 users winning prizes. In January, the grocer added more games to its roster. The gamification has created a new retail media revenue stream for Samkaup, which operates numerous grocery banners such as Krambúðin and Nettó. Participating brands can choose which type of game matches their product offerings and then provide free goods as prizes. After people win a product, they tend to keep buying it, Gunnarsdóttir said. For shoppers, the interactive games, which rotate weekly, tap into desires for free products and 'to play a little bit,' Gunnarsdóttir said. 'If you play for four weeks, you always win something,' she said. While weekends are typically the strongest days for in-store business, Gunnarsdóttir attributes a recent bump in foot traffic on Mondays, Tuesdays and Wednesdays to the games due to customers coming in those days to pick up their prizes. When Samkaup rolled out its loyalty program a few years ago, Iceland didn't really have a culture of loyalty systems outside of airlines, and no other grocer in the country had a loyalty offering, according to Gunnarsdóttir. Now, the program has about 100,000 people signed up — roughly one-fourth the population of Iceland, she said. The recent addition of the games stems from Samkaup's partnership with loyalty tech company Lobyco, which began in early 2021 when the Icelandic grocer launched its loyalty app for customers. On the launch day of the first game, 4,500 users played the spin-to-win game 5,300 times, with rewards such as a dozen cans of Pepsi Max and a 50,000 Icelandic Krona credit in the grocer's loyalty app, according to data provided by Samkaup. The number of gameplays has since skyrocketed. From January to February of this year, users played 34,316 times — roughly six times more than the launch day — and saw a win rate of 17.7%, according to data from the grocer. Currently, most of Samkaup's loyalty members play the games, and those players spend roughly 90% more in-store than those who don't play the games, Gunnarsdóttir said. 'People are playing the game again and again, and they're seeing the brand again and again,' she noted. To get the word out, Samkaup has in-store marketing and social media posts along with app pop-ups to alert people to the games, Gunnarsdóttir said, adding that there seems to be some word-of-mouth happening as well, given that loyalty program signups tend to increase when a new game drops. While grocery loyalty programs have a longer history in the U.S. than in Iceland, gamification is still an emerging area for retailers stateside. In 2023, Albertsons offered an online game during the summer to provide savings and prizes to users. In 2024, Instacart launched games such as a virtual wheel on its smart carts and Earth Fare gamified shopping through the rewards app Merryfield, letting customers earn points by interacting with fast facts, pop quizzes, quick polls and videos. More than half (55%) of U.S. respondents said they would describe gamification as 'very' or 'extremely' important when engaging with grocers, and 59% said they will visit a store to redeem rewards when they win, Lobyco reported last summer based on a survey of 2,168 people. However, only 6% of consumers have played a scratch-to-win or spin-to-win game, which Lobyco attributed to the underutilization of gamification by grocers. Going forward, Samkaup is looking to diversify the types of participating suppliers as well as better match games with in-store themes, Gunnarsdóttir said. On days when the grocer is promoting healthier food choices, 'we don't want to have chocolate in the game… [but instead] have something health-related' as the prize, she said. Gunnarsdóttir sees opportunities to personalize the experience in a way that is more closely tailored to shoppers as well as to add more seasonal games. 'Overall, the games have been extremely successful,' Gunnarsdóttir said. Recommended Reading Instacart adds games, personalized coupons to its smart carts Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
15-05-2025
- Business
- Miami Herald
Aisles Abroad: How an Icelandic grocer won shopper loyalty through gamification
Groceries and games can be a winning combo for boosting customer loyalty, Samkaup, an Icelandic grocer, has found. Samkaup scored a big win with its recent addition of in-app games, like spin-to-win, that give loyalty members the chance to win free products as prizes when that week's game becomes available, said Gunnur Líf Gunnarsdóttir, executive director of retail operations at Samkaup. Samkaup recorded 78,204 game attempts from December 2024 to January 2025, with 3,581 users winning prizes. In January, the grocer added more games to its roster. The gamification has created a new retail media revenue stream for Samkaup, which operates numerous grocery banners such as Krambúðin and Nettó. Participating brands can choose which type of game matches their product offerings and then provide free goods as prizes. After people win a product, they tend to keep buying it, Gunnarsdóttir said. For shoppers, the interactive games, which rotate weekly, tap into desires for free products and "to play a little bit," Gunnarsdóttir said. "If you play for four weeks, you always win something," she said. While weekends are typically the strongest days for in-store business, Gunnarsdóttir attributes a recent bump in foot traffic on Mondays, Tuesdays and Wednesdays to the games due to customers coming in those days to pick up their prizes. Winning over consumers When Samkaup rolled out its loyalty program a few years ago, Iceland didn't really have a culture of loyalty systems outside of airlines, and no other grocer in the country had a loyalty offering, according to Gunnarsdóttir. Now, the program has about 100,000 people signed up - roughly one-fourth the population of Iceland, she said. The recent addition of the games stems from Samkaup's partnership with loyalty tech company Lobyco, which began in early 2021 when the Icelandic grocer launched its loyalty app for customers. On the launch day of the first game, 4,500 users played the spin-to-win game 5,300 times, with rewards such as a dozen cans of Pepsi Max and a 50,000 Icelandic Krona credit in the grocer's loyalty app, according to data provided by Samkaup. The number of gameplays has since skyrocketed. From January to February of this year, users played 34,316 times - roughly six times more than the launch day - and saw a win rate of 17.7%, according to data from the grocer. Currently, most of Samkaup's loyalty members play the games, and those players spend roughly 90% more in-store than those who don't play the games, Gunnarsdóttir said. "People are playing the game again and again, and they're seeing the brand again and again," she noted. To get the word out, Samkaup has in-store marketing and social media posts along with app pop-ups to alert people to the games, Gunnarsdóttir said, adding that there seems to be some word-of-mouth happening as well, given that loyalty program signups tend to increase when a new game drops. Stateside gamification While grocery loyalty programs have a longer history in the U.S. than in Iceland, gamification is still an emerging area for retailers stateside. In 2023, Albertsons offered an online game during the summer to provide savings and prizes to users. In 2024, Instacart launched games such as a virtual wheel on its smart carts and Earth Fare gamified shopping through the rewards app Merryfield, letting customers earn points by interacting with fast facts, pop quizzes, quick polls and videos. More than half (55%) of U.S. respondents said they would describe gamification as "very" or "extremely" important when engaging with grocers, and 59% said they will visit a store to redeem rewards when they win, Lobyco reported last summer based on a survey of 2,168 people. However, only 6% of consumers have played a scratch-to-win or spin-to-win game, which Lobyco attributed to the underutilization of gamification by grocers. Unlocking the next level Going forward, Samkaup is looking to diversify the types of participating suppliers as well as better match games with in-store themes, Gunnarsdóttir said. On days when the grocer is promoting healthier food choices, "we don't want to have chocolate in the game… [but instead] have something health-related" as the prize, she said. Gunnarsdóttir sees opportunities to personalize the experience in a way that is more closely tailored to shoppers as well as to add more seasonal games. "Overall, the games have been extremely successful," Gunnarsdóttir said. Copyright 2025 Industry Dive. All rights reserved.
