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FB Roundup: Grosvenor, Maersk, Kinnevik, and Electrolux

August 24, 2018

Grosvenor’s Wheatsheaf invests in Australian AgTech firm, Maersk makes pioneering Arctic voyage, and three family-backed investors take stake in Swedish food app Karma.

Grosvenor’s Wheatsheaf takes £8m stake in AgTech firm

Britain’s wealthiest land-owning family has completed an £8 million ($10.3 million) transaction for a minority stake in AgriWebb, the Australian market leader in livestock farm management software.

Lego sales drop but family rebuilds for 2018

March 6, 2018

Flat global sales and corporate streamlining are behind an 8% drop in revenue for 2017, the Danish family owned Lego Group announced today.

Flat global sales and corporate streamlining are behind an 8% drop in revenue for 2017, the Danish family owned Lego Group announced today.

Revenue for the full year fell after more than a decade of strong growth to DKK 35 billion ($5.8 billion) from DKK 37.9 billion ($6.3 billion) in 2016. The decline came despite a Lego movie and Star Wars merchandise tie-ins and the royal opening of the Lego House family attraction last year.

McKinney Møller family eyes active management at Maersk as profits plummet

February 16, 2017

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities directly following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The announcement comes as the 113-year-old Danish company replaced its chairman of 14 years and posted its second heaviest loss in seven decades.

Family unblocks Lego potential with change at the top

December 6, 2016

The Danish family owners of the $5 billion Lego Group have appointed the non-family executive who quadrupled revenue in less than 10 years to a new effort to develop the long-term potential of the brand.

The Kirk Kristiansen family, owners of arguably the biggest toymaker in the world, announced today they have decided to establish the Lego Brand Group.

Record-breaking results at Lego

February 28, 2014

Lego's annual results for 2013 have seen it become the world's most profitable toymaker – just a decade after the Danish family firm was teetering on the edge of bankruptcy.

Lego's annual results for 2013 have seen it become the world's most profitable toymaker – just a decade after the Danish family firm was teetering on the edge of bankruptcy.

Its revenue increased by 10% to DKK 25.4 billion (€3.4 billion), while net profit grew 9% to DKK 6.1 billion – beating nearest rival Mattel, maker of Barbie, by 25%. Mattel's net profit was $904 million (€654.8).

Next-gens rise in European and Asian family businesses

March 1, 2012

Robert Maersk Uggla is 33 while Henry Cheng is 65 years old, but both next-gens, from different parts of the world, have made headlines this week for taking up top roles in their family businesses.

Danish industrial conglomerate Moller-Maersk said on 29 February that fourth-generation Uggla has been appointed head of the family business’s tugboat subsidiary, Svitzer. Until now, Uggla was chief executive of the group’s tanker operations.

Family business roundup: Profits up at VW, ABF and Sabanci, down at Moller-Maersk

February 28, 2012

It’s been a good week for three of Europe’s biggest family businesses, although Denmark’s Moller-Maersk Group has been hit by “voltatile markets”.

German carmaker Volkswagen said revenues jumped 25.6% to €159.34 billion in 2011, from €126.88 billion in 2010.

Danish family business cashes in with IPO

October 6, 2010

Pandora, a Danish jewellery maker, has carried out an initial public offering in Copenhagen worth more than €1.3 billion, making it one of the biggest listings in Europe this year.

The jeweller, which is best known for its charm bracelets, was 40% owned by the Enevoldsen family before the IPO. Per and Winnie Enevoldsen founded the company in 1982.

The IPO will dilute their holdings, but family members, who includes son Christian, will continue to play a role in the running of the company.

Inward investment in Sweden and Scandinavia

July 1, 2004

Foreign direct investors have a welter of industrialised countries to choose from but many markets stand in stark economic contrast with each other. Scandinavian countries are no exception

Scott McCulloch is editor of Families in
Business magazine.

Foreign direct investors have a welter of industrialised countries to choose from but many markets stand in stark economic contrast with each other. Scandinavian countries are no exception

Investing in Scandinavia virtually means investing in Sweden. The Swedish government, the press and local businesses treat foreign investors as they do Swedish investors. The media is quick to point out foreign ownership, however, when layoffs or plant shutdowns are announced.