Ikea Group acquires Ikano Retail Centers

Ikea Group has signed an agreement with Ikano Group to acquire the remaining 51% in Ikano Retail Centers.

Ikano Retail Centers’ business in Finland, Norway, and Sweden will complement Ikea Group’s existing shopping mall presence in Russia, Europe, and China. With this move, the group aims at creating future retail destinations by anchoring shopping centers with Ikea stores.

“With Ikano Retail Centers we are further strengthening our expertise from Ikea Centers with specific Scandinavian best practices. The combination of shopping center and retail experience will offer unique possibilities in co-creating meeting places of the future, where people shop, meet, dine, and enjoy other activities. The opportunities are endless,” says John Tegnér, CEO of Ikea Centers.

After completing the transaction, Ikea Centers will fully own and operate 58 shopping centers. Its market presence will cover 13 countries and total more than 3.2 million sq m and approximately 400 million annual visits. The malls operate under different brands, such as Mega in Russia and Livat in China.

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