Pisiffik

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Pisiffik A/S
Type Aktieselskab
Industry Retail
Founded 2001
Headquarters Sisimiut, Greenland
Area served Greenland
Key people Per Steen Larsen (Adm. Director)
Revenue DKK 925 million
Net income DKK 51 million
Employees 623–650
Parent Dagrofa (85.79%)
Greenland Venture (14.21%)
Subsidiaries KK Engros (62%)
Website pisiffik.gl
References: (2011[1][2][3])

Pisiffik A/S is the largest privately owned commercial company in Greenland.[4] Formerly a division of KNI, it is now a subsidiary jointly owned by Dagrofa, the Danish food concern,[1] and Greenland Venture, a state-owned investment firm.[2]

History[edit]

Pisiffik was first established in 1993 as KNI Pisiffik A/S,[5] a subsidiary of Greenland's KNI conglomerate. Based in Greenland's larger towns, it was an experiment in running the stores without a government subsidy, while KNI Pilersuisoq continued to operate the more distant and less profitable outposts. The present Pisiffik A/S was spun off as a separate company in 2001[4][6] and the competition between the two chains blossomed into a price war after KNI opened a discount Pilersuisoq in Aasiaat in 2008.[7][8]

Both companies were state-owned at the time but, on 16 June 2010, Dagrofa, a Danish firm, bought most of Greenland Venture's stake in the company and became the majority holder.[3][9]

Operations[edit]

Pisiffik supermarket in Sisimiut.

Pisiffik's roughly 30 stores are restricted to the six largest towns in Greenland, with stores in Aasiaat, Ilulissat, Maniitsoq, Nuuk, Qaqortoq, and Sisimiut.[1]

Brands[edit]

Pisiffik A/S includes the following brands: Pisiffik supermarkets, SPAR grocery stores, Pisattat consumer electronics stores, Torrak Fashion clothing retailers, and JYSK and Idemøbler furniture stores.[2]

Pisiffik also holds a 62% stake in wholesaler KK Engros.[2]

References[edit]

  1. ^ a b c Dagrofa. "Dagrofa Årsrapport 2011" ["Dagrofa Annual Report 2011"]. Accessed 1 May 2012.
  2. ^ a b c d Greenland Venture. "Pisiffik A/S". Accessed 1 May 2012. (Danish)
  3. ^ a b Kalaallit Nunaata Radioa. "Dagrofas aktieandel i Pisiffik stiger". 16 Jun 2010. Accessed 28 Aug 2010. (Danish)
  4. ^ a b Pisiffik A/S. "Om os". Accessed 28 Aug 2010. (Danish)
  5. ^ Randburg.com. "KNI Holding A/S". Accessed 30 Apr 2012.
  6. ^ Kamikposten. "Hvad vil Pisiffik A/S?". 15 Mar 2001. Accessed 28 Aug 2010. (Danish)
  7. ^ Sermitsiaq. "KNI-formand afviser løftebrud". 4 Sept 2008. Accessed 28 Aug 2010. (Danish)
  8. ^ Sermitsiaq. "Butikskrig i Aasiaat". 11 Dec 2008. Accessed 28 Aug 2010. (Danish)
  9. ^ Dagrofa. "Dagrofa køber Pisiffik aktier af Greenland Venture". Accessed 28 Aug 2010. (Danish)