Ikano AB sells its 26,8% share ownership in the Swedish sport retail chain Stadium AB back to the founders. Ulf and Bo Eklöf with families thus become the sole owners of the company. The decision follows the strategic direction of Ikano Group to focus its five core businesses. The share purchase agreement was signed on 29th August and will come into affect on 1st April 2019.
The brothers Ulf and Bo Eklöf laid the foundation of Stadium back in the 1970s, with the first Stadium store opening in 1987 in Stockholm. Ikano Group acquired its stake in the company in April 2005.
“Stadium’s growth from 2005 to 2018 has been about 70 percent and this year’s turnover is about seven billion SEK. Ikano and Stadium share the same values, and we have acquired a lot of knowledge and inspiration, especially in strategic retail issues”, says Ulf and Bo Eklöf, founders and majority owners of Stadium.
“Together with Ikano we have had a good growth and gained both the courage and opportunity to continue our development. We are of course very proud of the cooperation and the learnings it has given us, but are also grateful for the opportunity we now have to continue the movement forward”, says Karl Eklöf, CEO Stadium Group.
“It has been a pleasure working with the team at Stadium over the years. I would especially like to thank the family Eklöf, represented by Ulf, Bo and Kalle for a fantastic cooperation and business relationship. Our companies share very similar values and our friendship will continue. I wish the entire Stadium team the very best for the future”, says Lars Thorsén CEO of Ikano Group.
For more information, please contact:
Marie Gällstad, Head of Group Communications, Ikano Group
firstname.lastname@example.org, +352 691-488320
Angelica Larsson, Responsible for PR and Information, Stadium Group
email@example.com, +46 70-580 39 31