Reykjavik, Iceland (October 26, 2007) – LS Retail, the leading supplier of quality Retail and Hospitality solutions, has been acquired by Baugur Group, an international investment company focusing on retail, property, media and technology in the UK and Scandinavia. This was announced at the LS Retail Ready Conference in Copenhagen last Monday. It was also announced that Mr. Adalsteinn Valdimarsson, chairman of LS Retail, has taken the role of Executive Chairman. Commenting on the acquisition, Mr. Valdimarsson said: “The acquisition by Baugur Group is an excellent recognition for the LS Retail solution and the team behind it. To have an owner with strategic focus on retail related investments, knowledge and relationships in the industry and financial strength will enable even greater achievements by the LS Retail team and will no doubt be welcomed by our partners worldwide.”
About Baugur Group
Baugur Group is an international investment company focussing on investments within the fields of retail, property and media in Iceland, the UK, and Scandinavia. Companies related to Baugur Group employ some 75,000 people worldwide in over 3,900 stores with a total turnover of £9.8 billion.
The CEO of Baugur Group is Gunnar Sigurðsson and the Executive Chairman is Jón Ásgeir Jóhannesson. Among Baugur's principal Retail investments are the supermarket chain Iceland, the toy retailer Hamleys, Woodward Foodservice, the jewellery chain Goldsmiths, fashion chains MK One and Jane Norman, the health products chain Julian Graves, fashion company Mosaic Fashions, renowned UK department store chain, House of Fraser, Hagar, Iceland's largest retailer, the famous Danish department store chain Magasin du Nord and Illum, one of Denmark's largest department stores. Baugur also has a substantial, but non-controlling, indirect stake in the AIM-listed wholesaler Booker Group. Among the principal Property investments are property holding companies Landic Property, Smáralind and Eik as well as development companies Þyrping and Nordicom. Baugur's main investments within the Media & Technology division are the media company 365 and the electronic communications and IT company Teymi. Baugur Group is also a major shareholder in the Icelandic investment company FL Group. For further information, please visit www.baugur.com. About LS Retail Microsoft Dynamics Regional ISV Partner of the Year 2007 LS Retail is one of the principal companies developing retail and hospitality solutions based on Microsoft Dynamics NAV/AX for the international arena. LS Retail has been sold to 130 countries, translated into 33 languages and is distributed through a partner network including more than 75 Certified partners in 51 countries. LS Retail is used by more than 15.000 stores operating over 37.000 POS terminals worldwide. Among many satisfied users of our solutions are: adidas, Bestseller (Vero Moda, Jack and Jones, etc.), Alliance Pharmacy, Magasin du Nord, Popular Bookstores, IKEA, MIT Italy, Bulgarian Telecom, SPAR Belgium, Starboard/LVMH Moet Hennessy Louis Vuitton USA, APC Japan, Čili Pizza, Waltons Stationery Company - Bidvest Group (South Africa) and many more. For further information please contact:
LS Retail ehf.
Tel: +354 5509000
Fax: +354 5509010
Email: info@LSRetail.com
Website: www.LSRetail.com |