Bakkavör Group hf. is an Icelandic international food manufacturing company specialising in fresh prepared foods and produce. The group operates 66 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

Reykjavík

Reykjavík is the capital and largest city in Iceland.Its latitude at 64°08' N makes it the world's northernmost capital of a sovereign state. It is located in southwestern Iceland, on the southern shore of Faxaflói Bay...

. The company was listed on the Iceland Stock Exchange

Iceland Stock Exchange

NASDAQ OMX Iceland or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1990. Equities trading increased rapidly thereafter...

 under the ticker BAKK prior to April 2010.

History and markets

Bakkavör Group was founded in 1986, and today makes over 6,000 products in 18 product categories, which are developed and sold predominantly under its customers’ own brands. The group operates 66 factories and is the largest provider of fresh prepared foods and produce in both Iceland and the United Kingdom

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

, and has business operations in Belgium

Belgium

Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...

, China

China

Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

, Czech Republic

Czech Republic

The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....

, France

France

The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...

, South Africa

South Africa

The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...

, Italy

Italy

Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...

 and Spain

Spain

Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...

. Lysekils of Bakkavör Sweden

Sweden

Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....

 AB has a Royal Warrant

Royal Warrant

Royal warrants of appointment have been issued for centuries to those who supply goods or services to a royal court or certain royal personages. The warrant enables the supplier to advertise the fact that they supply to the royal family, so lending prestige to the supplier...

 from the Swedish Royal Family

Swedish Royal Family

The Swedish Royal Family since 1818 consists of a number of persons in the Swedish Royal House of Bernadotte, closely related to the King of Sweden. They are entitled to royal titles and style , and some perform official engagements and ceremonial duties of state...

.

On 31 January 2008 Bakkavör entered the United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 by acquiring California

California

California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

n fresh and frozen prepared foods provider, Two Chefs on a Roll.

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 Spalding, Lincolnshire

Spalding, Lincolnshire

Spalding is a market town with a population of 30,000 on the River Welland in the South Holland district of Lincolnshire, England. Little London is a hamlet directly south of Spalding on the B1172 road....

 and Birmingham

Birmingham

Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...

, divided into four categories: chilled ready meals, chilled meal accompaniments, chilled ethnic snacks, chilled dips, dressings and sauces. Laurens Patisseries in Newark-on-Trent

Newark-on-Trent

Newark-on-Trent is a market town in Nottinghamshire in the East Midlands region of England. It stands on the River Trent, the A1 , and the East Coast Main Line railway. The origins of the town are possibly Roman as it lies on an important Roman road, the Fosse Way...

, bought from the Andreas Liveras

Andreas Liveras

Andreas Dionysiou Liveras was a Cyprus-born British businessman, who rose from modest means to own and run successful bakery and yacht charter companies...

 family for 130 million pounds in 2006, claims to be the largest cream cake manufacturer in the UK. On 13 May 2005, Bakkavör acquired UK fresh prepared foods group Geest.

Bakkavör Pizza

Bakkavör Pizza was formed in 2006 when Group's Pizza business's Katies and The Pizzeria were combined under the Bakkavör Pizza name. Katie's was formed in 1972 by three ladies who made quiche and pizzas. It is now one of the Group’s largest sites where over 100 different pizzas are made every day. Katie's Kitchen was the first UK manufacturer to produce authentic Italian style pizzas. The Pizzeria site was bought in 2001 and opened in 2003 for the production of state-of-the-art pizza bases and pizzas.

90% of Bakkavör's products are sold to multiple retailers (e.g.: Asda

Asda

Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile...

, Marks & Spencer

Marks & Spencer

Marks and Spencer plc is a British retailer headquartered in the City of Westminster, London, with over 700 stores in the United Kingdom and over 300 stores spread across more than 40 countries. It specialises in the selling of clothing and luxury food products...

, Morrisons

Morrisons

Wm Morrison Supermarkets plc is the fourth largest chain of supermarkets in the United Kingdom, headquartered in Bradford, West Yorkshire, England. The company is usually referred to and is branded as Morrisons formerly Morrison's, and it is part of the FTSE 100 Index of companies...

, Sainsbury's, Somerfield

Somerfield

Somerfield was a chain of small to medium sized supermarkets operating in the United Kingdom. The company was taken over by the Co-operative Group on 2 March 2009 in a £1.57 billion deal, creating the UK's fifth largest food retailer. The name is currently being phased out and replaced by the...

, Tesco

Tesco

Tesco plc is a global grocery and general merchandise retailer headquartered in Cheshunt, United Kingdom. It is the third-largest retailer in the world measured by revenues and the second-largest measured by profits...

, Waitrose

Waitrose

Waitrose Limited is an upmarket chain of supermarkets in the United Kingdom and is the food division of the British retailer and worker co-operative the John Lewis Partnership. Its head office is in Bracknell, Berkshire, England...

), with remaining sales to foodservice providers, hospitals, care homes and schools.

Ownership

Exista

Exista

Exista hf. is an Icelandic financial services group formerly listed on the Iceland Stock Exchange. Its activities are based primarily on insurance underwriting and other financial services, although it is also active in investments. The group’s primary market is the Nordic countries.-Ownership:The...

 controlled a significant share of the company and it sold all 39.629% of the company to Lydur Gudmundsson and Agust Gudmundsson in 2008.