Axfood

- With Axfood as a new owner, we will now work with City Gross and strengthen its market position. Patrick Grabenbauer has been a key individual behind Willys' success over a long period of time and has extensive experience from for example brand and concept development, digitalisation and business development. In addition, he is a very appreciated leader. I cannot think of a better person than Patrick to lead City Gross going forward, says Nicholas Pettersson, Managing Director of Willys and newly appointed chairman of City Gross.

Work on developing the City Gross store chain by strengthening the brand, developing the concept and implement efficient chain management is now being initiated as the acquisition has been completed.

- I strongly believe in the potential of this company and brand, and look forward to together with City Gross' employees and management start the work on developing City Gross going forward. I take on my new role with a lot of energy, says City Gross' new Managing Director Patrick Grabenbauer.

Patrick has worked within Axfood for somewhat more than 20 years and most recently as Head of Marketing at Willys. Previously he has also worked in several other roles within Willys and Axfood, including as Head of Marketing and Sales at Willys and as Head of Mat.se.

- As Axfood now has completed the acquisition of City Gross, conditions are being created to significantly increase competition in the hypermarket segment of the food retail market. With a new management and board in place, the best conditions to take the next steps are being created, says Simone Margulies, President and CEO of Axfood.

Anders Wennerberg, previously Managing Director of City Gross, has in conjunction with the change in ownership decided to leave his role and end his employment at City Gross.

Additional information about the transaction can be found in Axfood's press releases from 11 June 2024 and 15 October 2024.