Fjarðarkaup family sells grocery store after 53 years

The family that owns Fjarðarkaup has agreed to sell the grocery business after 53 years, with intense competition from larger chains contributing to the decision, mbl.is reports.

“The market is naturally highly competitive, and the big player has been squeezing us in recent years,” managing director Gísli Sigurbergsson said in an interview with Dagmál. He said the store’s growth had been limited.

Gísli pointed to several competitors nearby, including three Bónus stores, Costco, Krónan and Hagkaup, as well as shops in Garðabær.

Fjarðarkaup has been owned by the same family since Gísli’s parents founded it. In recent years, ownership has been shared by Gísli and his three siblings.

Samkaup, which is owned by Drangar, has agreed to buy the grocery business. Property company Kaldalón will buy the building and lease it to Samkaup.

Gísli also spoke in the interview about his years at the family business and the emotions of leaving the store after decades of work.