Reitan Group

Infobox Company
company_name = Reitangruppen AS
company_
company_type = Private
foundation = 1979
location = Trondheim, Norway
key_people = Odd Reitan (CEO)
area_served = Northern Europe
industry = Retailing
products =
revenue = profit NOK 28,178 million (2005)
operating_income = NOK 753 million (2005)
net_income = NOK 535 million (2005)
num_employees = 14,558 (2007)
parent =
subsid =
homepage = [http://www.reitangruppen.no www.reitangruppen.no ]
footnotes =

Reitan Group or Reitangruppen is a Norwegian wholesaler and retail franchiser. Included in its portfolio is REMA 1000, 7-Eleven, HydroTexaco, Easy24, Narvesen, Spaceworld and Pressbyrån. [citation|title=Handbuch Handel: Strategien-perpektiven-fallbeispiele |author= Joachim Zentes|year= 2005|publisher=Gabler Verlag|url=http://books.google.com/books?vid=ISBN3409142983&id=Ttpf17ur_sUC&pg=RA2-PA146&lpg=RA2-PA146&ots=UAx0wKS5fj&dq=%22Reitan+Group%22&ie=ISO-8859-1&output=html&sig=qYbmjh9BfOujqogaM6q5cCQpess|id=ISBN 3409142983] The company has most of its 1,979 stores in Norway, but also some in Sweden, Denmark and Latvia. The company also has a large real estate portfolio with 813,000 square meters of real estate, especially in Trondheim, in addition to owning half of Nordenfjeldske Dampskibselskab. Reitan Group is owned by the Reitan Family and led by Odd Reitan and has its headquarters at Lade Gaard at Lade in Trondheim.

History

The group started when Odd Reitan took over his father's grocery store in 1972, and by 1979 he had six stores in Trondheim. The same year he and his father took a study trip in Europe and decided to launch the low-price franchise concept REMA 1000. In 2001 Reitan Group merged with Narvesen ASA to form ReitanNarvesen and was for a short period listed on the Oslo Stock Exchange, but the Reitan Family soon bought back all the shares. In 2006 the group also bought the HydroTexaco fuel stations in Norway and Denmark from Norsk Hydro and Chevron.

References