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3<br />

The Group<br />

Bakkavör Group was founded in 1986 in Iceland<br />

by two brothers, Ágúst and L‡dur Gudmundsson.<br />

Today, the Company comprises a parent company<br />

and eight subsidiaries in Europe, together with an<br />

associated company in Chile. The Group operates<br />

sales and production enterprises in four European<br />

Countries, Iceland, France, Sweden and the United<br />

Kingdom, in addition to a plant in Chile. The<br />

Group also has sales and distribution companies<br />

in Germany, Finland and Poland. Each of these<br />

subsidiaries is operated as an independent<br />

company.<br />

The principal customers of the Group are the<br />

major supermarket chains of Europe. We do not<br />

normally enter into contracts to supply our<br />

customers. Our business relations are based on<br />

the combination of service, quality, innovation<br />

and value that we offer.<br />

We make nearly 350 different products. Most of<br />

them are freshly prepared every day, and will<br />

typically be comsumed within days of leaving us.<br />

Products<br />

The principal products of Bakkavör are high-quality<br />

chilled prepared foods and chilled value-added<br />

seafood. The chilled prepared foods market is a fastgrowing<br />

market in which the vast majority of the<br />

products carry the brand names of major food<br />

retailers. These retailers are our customers.<br />

Prepared Chilled Food<br />

• Ready Meals<br />

• Meal Accompaniments<br />

• Ethnic Snacks<br />

Dips, Dressings and Sauces<br />

• Dips<br />

• Fresh salad dressings<br />

• Spreads in tubes<br />

• Sauces<br />

Chilled, Value-Added Seafood<br />

• Roe and Caviar Products<br />

• Herring Products<br />

• Shellfish<br />

• Smoked Salmon

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