Sweden: Axfood to acquire Mat.se

Swedish retail and wholesale food business Axfood is to expand into the online shopping sector with the $59.6 million acquisition of Mat.se,

Operated by Matse Holdings, Mat.se is an online supermarket offering bakery products, flowers, beverages, and other grocery items. The company also offers a food delivery service under its Cold Cargo brand as well as cooking and recipe sites under the Kokaihop and Spisa names.

Axfood is a food retail and wholesale business in Sweden, operating 263 stores under banners such as Willys and Hemkop.

In a statement, Axfood said: "The food retail market is currently in a phase of major changes, where trade is becoming increasingly digital with an increase in e-commerce”. President & CEO Anders Strålman added: “The aim of the acquisition of mat.se is to accelerate and develop our digital venture".

Source: Axfood / Reuters