Hagar

Hagar is a leading Icelandic holding company based in Kópavogur, Iceland in the food, specialty, and fuel markets. While the grocery store sector represents its core operations, the company diversified its existing portfolio in the early 2000s to encompass the specialty and retail industries. On December 16, 2011, Hagar announced that its shares would be listed on the NASDAQ OMX Iceland. This marks the first company to be listed on this exchange since the 2008 collapse.

Currently, Hagar owns and operates Bónus and Hagkaup, two of the largest grocery store chains in Iceland. Hagar also owns Olís, Eldum Rétt, Aðföng, Bananar, Stórkaup, and Zara. In total, Hagar oversees these eight subsidiaries across the grocery retail, specialty, and distribution sectors. These companies possess different internal structures and cultures because they are run as independent companies. Hagar’s primary customers are based in Iceland; however, some of its specialty retail stores reach an international audience.

As Hagar looks to the future, sustainability remains a central focus. Its long-term mission is to continue to offer high quality products and services at a competitive price while reducing negative environmental impact. While the companies under Hagar are run independently, they share the same overarching mission. The recent acquisition of SMS in the Faroe Islands adds a strong consumer market area with several stores and a valuable real estate portfolio.  The Faroese population is around 55 thousand which translates into a 14% increase to Hagar´s market area.

The sustainability policy of Hagar is a long-term plan for how the company can contribute to a better and healthier society and environment, alongside maintaining a healthy business operation. Sustainability is an integral part of the company’s core operations and serves as a guiding principle in decision-making on major issues. In evaluating the company’s performance, both the impact it has on society and the environment, as well as its profitability, are considered. Hagar's sustainability policy is based on the following four key pillars:

1. Environment: Hagar places emphasis on understanding both the direct and indirect effects of its operations on the environment and strives to minimize negative impacts as much as possible.

• Negative impacts mainly refer to:
  • Greenhouse gas emissions
  • Pollution of any kind
  • Food waste
  • Actions that contribute to the decline of biodiversity and ecosystem degradation

2. Human Resources: Hagar strives to ensure the well-being and safety of its employees. Equality is a guiding principle in all decision-making processes, and the company creates value for the workforce through education and training. Hagar also emphasizes that the rights of employees within its value chain are respected.

3. Consumers: The interests of consumers and public health are prioritized in Hagar's operations.
The company places emphasis on offering a wide range of health-conscious options and ensures that consumers have access to the best prices available, regardless of location.
Additionally, Hagar supports various social causes, whether through grants or collaborative projects.

4. Governance: Hagar adheres to legal and regulatory requirements, following recognized governance guidelines. The company also enforces a strict code of ethics and communication protocols across its operations.