Pisiffik Explained

Pisiffik A/S
Type:Aktieselskab
Foundation:2001
Location City:Nuuk
Location Country:Greenland
Key People:Per Steen Larsen (CEO)
Area Served:Greenland
Industry:Retail
Revenue:DKK 925 million
Net Income:DKK 51 million
Num Employees:623 - 650
Subsid:KK Engros
Homepage:pisiffik.gl

Pisiffik A/S is a chain of Greenlandic stores. The company is the largest privately owned commercial company in Greenland, and is a subsidiary jointly owned by NorgesGruppen, the Norwegian grocery wholesaling group, the Danish investment company KFI, and Greenland Venture, a state-owned investment firm.

History

Pisiffik was first established in 1993 as KNI Pisiffik A/S,[1] a subsidiary of Greenland's KNI conglomerate. Located 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 when Danish company Dagrofa bought Pisiffik as part of a privatization of parts of KNI.[2] Dagrofa sold its shares to the current owners in 2015.[3] [4] In 2016, the headquarters were moved from Sisimiut to Nuuk.[5]

Operations

Pisiffik's approximately 40 stores are found in the six largest towns in Greenland: Aasiaat, Ilulissat, Maniitsoq, Nuuk, Qaqortoq, and Sisimiut.[6]

Brands

Pisiffik operates the following brands:

Pisiffik also owns wholesaler KK Engros.[7]

Notes and References

  1. Randburg.com. "KNI Holding A/S ". Accessed 30 Apr 2012.
  2. News: Dagrofa køber butikskæde i Grønland. 13 April 2017. Politiken. 20 October 2001.
  3. News: Dagrofa sælger Pisiffik. 13 April 2017. KNR. 1 October 2015.
  4. News: Hårdt trængte Dagrofa skærer fra i detail-satning. 13 April 2017. Børsen. 1 October 2015.
  5. News: Pisiffik flytter til Nuuk. 13 April 2017. KNR. 11 July 2015.
  6. News: Pisiffik runder omsætning på en milliard kroner. 13 April 2017. Sermitsiaq AG. 27 May 2016.
  7. Web site: Ejerforhold. KK Engros. 13 April 2017.