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Hitt og þetta 18. september 2006

Hakon Invest invests in Hemma

Hakon Invest becomes a part-owner in Hemmabutikerna, Sweden's leading white goods retailer. The investment amounts to SEK 85 M and secures an ownership interest for Hakon Invest of 48%.

Hakon Invest AB has signed a final agreement with Hemmabutikerna Utvecklings AB (Hemma) to become a new part-owner. Hemma owns 21 stores in the three metropolitan regions in Sweden and is the member organization for the Hemma chain's independent retailers. Hakon Invest is investing SEK 85 M and secures an ownership interest of 48% of the capital and votes. The agreement also includes an option for Hakon Invest to increase its ownership to more than 50% at a later date. Hemma is characterized by a strong entrepreneurship with high level of specialized retail expertise in its stores.

"We foresee great potential for Hemma and its continued store expansion. Based on its well-developed and distinct concept, combined with a clear customer focus, Hemma is well-positioned for the future," says Göran Hesseborn, CFO and responsible for investments at Hakon Invest. "Through contributing retail know-how, contacts and capital, Hakon Invest foresees great possibilities, as a long-term owner, to create value for the Hemma Group."

"It is extremely pleasing to welcome Hakon Invest as an owner in Hemma," says Stig Wass, President of Hemma. "During 2006, we acquired our two largest members, Dala Hemtjänst and Konsumentköp, and achieved the position of Sweden's largest white goods retailer. With Hakon Invest, we gain a partner with extensive retailing know-how, knowledge about entrepreneur-driven companies and one that wants to continue to further develop Hemma."

Earlier this year, Hemma acquired the member companies Dala Hemtjänst, Vitvaruhuset i Norrtälje and Konsumentköp i Helsingborg, as a result of which Hemma currently has 21 proprietary stores in the metropolitan regions. These stores are part of the Hemma chain's more than 130 stores in Sweden, with total sales of about SEK 2 billion. The remaining stores are owned and operated by local retailers who are members of the Hemma chain with the right to use the brand. The Hemma chain is Sweden's largest white goods retailer.

Hemma is currently in a strong development phase in which the number of stores has increased significantly since the start in 2001. The ambition is to further expand the Hemma chain, through new establishment of own stores and recruiting more independent retailers as members. At the same time, a reprofiling of the independent retailers' stores to the common Hemma brand is under way. In the short term, Hemma's focus is to continue integrating the acquired operations and create opportunities for long-term growth. Hemma will continue to increase the number of proprietary stores and the goal is to increase sales to over SEK 1 000 M within five years.

The acquired operations posted annual sales, pro forma, of about SEK 570 M as of June 30, 2006 and reported a profit. For more information, contact:

Hakon Invest Claes-Göran Sylvén, President +46 (0)8-553 399 64

Hakon Invest Göran Hesseborn, CFO +46 (0)8-553 399 99

Hemma Stig Wass, President +46 (0)70-543 20 59

Hakon Invest, which is listed on the Stockholm Stock Exchange (Stockholmsbörsen) O-list, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, the Nordic region's leading retail company with focus on food. In addition, Hakon Invest owns 100% of the shares in Forma Publishing Group and 50% of Kjell & Company. Further information about Hakon Invest is available at www.hakoninvest.se.