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ICA Group Sells E-Commerce Site

Update On :21 June 2016

ICA Group Sells E-Commerce Site

Swedish retailer has announced the divestment of InkClub, the online consumables site which it has owned since 2007.

The site, which sells products such as ink, lighting equipment, electronics and coffee, was sold by the group after it decided it "has limited synergies with our core business".

In a statement released by the group, Liv Forhaug, its chief strategy officer, said: "After conducting a review of our ownership we have decided to sell InkClub. Our plan for the portfolio companies and the streamlining of ICA Gruppen’s holdings has thereby been fully carried out.”

The business has been sold to its founder, Lennart Nyberg, for a price of SEK322 million (€34.5 million), which after transaction costs will entail an estimated capital loss for ICA Gruppen of SEK30 million.

Inkclub currently operates in 10 countries. The sale is expected to be completed during the month of June.

News Source From : http://www.esmmagazine.com/ica-group-sells-e-commerce-site/29031

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