Bakkavör

Infobox_Company
company_name = Bakkavör Group hf.
company_
company_type = Public (OMX|ICE5383|BAKK)
company_slogan =
foundation = 1986
location = Reykjavík, Iceland
key_people = Ágúst Guðmundsson (CEO), Lýdur Guðmundsson (Chairman of the board)
industry = Food processing
products = ready meals, soups, sauces, prepared fruits, vegetables and salads, breads, sandwiches, desserts
revenue = £1.470 billion (2007)cite web
title=Annual Report 2007
url=http://www.bakkavor.com/media/annual-reports/Bakkavor_Group_Annual_Report_2007.pdf
accessdate=2008-03-19
publisher=Bakkavör]
net_income = profit £47.4 million (2007)
num_employees = 18,000 (2007)
homepage = [http://www.bakkavor.com/ www.bakkavor.com]
intl = yes

Bakkavör Group hf. is an Icelandic international food manufacturing company specialising in fresh prepared foods and produce. [citeweb|url=http://www.hoovers.com/bakkavor/--ID__138054--/free-co-factsheet.xhtml|title=Bakkavör|publisher=Hoovers|accessdate=2008-03-12] The group operates 62 factories and employs over 20,000 people in nine countries with a pro-forma turnover in 2007 of £1.5 billion. The group’s head office is in Reykjavík. The company is listed on the Iceland Stock Exchange under the ticker BAKK, and is a constituent of the OMX Iceland 15 index.

History and markets

Bakkavör Group was founded in 1986, and today makes over 6,000 products in 17 product categories, which are developed and sold predominantly under its customers’ own brands. It is the largest provider of fresh prepared foods and produce in both Iceland and the United Kingdom, and has business operations in Belgium, China, Czech Republic, France, South Africa and Spain. [citeweb|url=http://www.bakkavor.com/about|title=Bakkavör, about|publisher=Bakkavör|accessdate=2008-03-12] Lysekils of Bakkavör Sweden AB has a Royal Warrant from the Swedish Royal Family.

On 31 January, 2008 Bakkavör entered the United States by acquiring Californian fresh and frozen prepared foods provider, Two Chefs on a Roll. [citeweb|url=http://www.flex-news-food.com/pages/13953/Bakery/Sauce/USA/bakkavor-group-enters-us-market-acquisition-californian-fresh-prepared-foods-provider.html|title=Bakkavor Group Enters US Market with Acquisition of Californian Fresh Prepared Foods Provider|publisher=Flex News Food|date=1 February, 2008|accessdate=2008-03-12]

UK operations

The United Kingdom is Bakkavör's largest market by turnover, operating three subsidiaries in the UK employing 2,500 people. The company’s operations are based mainly in London and Birmingham, divided into four categories: chilled ready meals, chilled meal accompaniments, chilled ethnic snacks, chilled dips, dressings and sauces. Laurens Patisseries in Newark-on-Trent claims to be the largest cream cake manufacturer in the UK. On 13 May 2005, Bakkavör acquired UK fresh prepared foods group Geest. [citeweb|url=http://www.just-food.com/factsheet.aspx?ID=25|title=Bakkavör|publisher=Just Food|accessdate=2008-03-12]

90% of Bakkavör's products are sold to multiple retailers (eg: Asda, Marks & Spencer, Morrisons, Sainsbury's, Somerfield, Tesco, Waitrose), with remaining sales to foodservice providers, hospitals, care homes and schools. [citeweb|url=http://www.bakkavor.com/our-markets/our-customers/|title=Bakkavör, customers|publisher=Bakkavör|accessdate=2008-03-12]

References

External links

* [http://www.bakkavor.com Group website] in English