You think that the food prices in Norway are expensive? Yes they are, and there is a reason for this. Norwegian Food store gians earns like kings. They could have been way cheaper, but they just trust the Norwegian people which makes them more and more rich.
Just look at these income numbers for the Norwegian Food store giant owners
- Kiwi, Meny and Spar earned 71,4 billion Norwegian NOK last year~
- Rema 1000 alone earned 31 billion Norwegian NOK last year~
- Coop Mega, Coop Prix etc earned 30 billion Norwegian NOK last year~
These numbers can be a bit not accurate as these food giants in Norway have different poltics. They try to keep their income as much hidden as possible.
Reitan family with father and sons Odd Magnus (40) and Ole Robert (43) have extracted 350 million Norwegian NOK in 2013 and 2012 from Reitangruppen. Dividends are distributed between father and his two sons. So they are truelly food store kings. -e24.no
Also Rema gave a present to most of the Rema leaders which was quite amazing. He flew all of them to Las Vegas in USA and held a long big party and conference celebrating Rema 1000.
Other important Names and Numbers in food giants Norway article
Another important name is Stein Erik Hagen, which is considered as the Norway’s sixth richest, with an estimated fortune of 16.3 billion calculations of the magazine Kapital. Revenues for the grocery giant was last year 30 billion. -e24.no
Other than him, there is Over one billion of Kiwi, Meny and Spar money that have ended in the biggest owner who is the Johannson family.
In a country with just over 5 million people. These food store giants earns a lot more than they should. Prices in Norway are from 3% to 70% more expensive than in Sweden, which is the neighbour country.
Because of these 3 giants, ICA (which is a big name in Sweden) had to give up Norway. The same goes for LIDL which have almost every country in Europe. These 3 giants also have almost no competition, but thats another article.