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Holdbart

Norway’s leading food waste champion

Company details

Year Aquired

2021

Location

Norway

Revenue (2020)

318 mNOK

Sector

Food Retail / Food Surplus

Employees

190

Investment Themes

Resource Efficiency

Contact

If you want to know more about Holdbart please contact Hannah Gunvor Jacobsen at: hannah.jacobsen@summaequity.com

Holdbart at a glance

Holdbart is Norway’s leading retailer of surplus food items, saving excess products that suppliers are unable to sell to conventional grocery chains and retail outlets. Products that are nearing their expiry date, have old or faulty labels, are discontinued, or are a result of general oversupply can be sold in one of Holdbart’s physical stores or through their website. These products are offered at a 20 – 90% discount compared to their original prices. This offers a sustainable solution for both end-customers and suppliers who would otherwise have to dispose of excess and/or expired produce.

 

Recent developments

During 2020, Holdbart opened 1 new store in Oslo, Norway – and saw an increase in sales of ~70%. This was mainly driven by full-year effects of 2 stores opened in 2019, revamped marketing efforts, and COVID-19. The latter resulted in increased levels of domestic grocery shopping as the Swedish borders, and restaurants and cafés were closed. Still, the company is seeing continued growth and momentum in 2021, and is on track with additional store openings.

Impact dimensions

The challenges we face

Food waste is a significant and growing global issue. In Norway alone we wasted 417,000 tons of food in 2019, representing 1.3m tons of CO2e. Globally, food waste represents 8% of global GHG emissions, and is recognized by the UN as one of the most important climate initiatives shall we succeed in reaching our climate goals.

 

What is the outcome

Holdbart provides a distribution outlet for products which otherwise would have been wasted, allowing for more efficient use and distribution of food which is already produced and ready for human consumption.

 

Who are the stakeholders

Holdbart is based in Norway, benefitting different stakeholders throughout its ecosystem. First and foremost, it offers a sustainable bargain to its customers, who see savings of 20-90% compared to conventional grocery shopping. As a result, Holdbart helps improve household economics with affordable groceries. Secondly, it provides a practical distribution channel for suppliers looking to sell products which conventional outlets will not buy. In addition, it allows suppliers to continue product innovation as well as produce seasonal products, as Holdbart can distribute failed product launches and surplus production.

 

How big is the effect, and does it last?

In 2020, Holdbart saved ~6,500 tons of food waste, implying ~20k tons of CO2e saved. Furthermore, it conducted ~1.5M transactions, supporting families, students, and other consumers in reducing their spending levels on groceries. Holdbart itself had internal waste levels of only ~0.4% during the same period, ensuring nearly all its inventory reach Norwegian households – as they are supposed to.

 

If Holdbart didn’t exist…

Without Holdbart, a significant amount of food and retail products would go to waste which otherwise could have been sold to the consumer. As a result, individuals and families would spend significantly more on their regular grocery shopping. Furthermore, food producers and other suppliers would have a cumbersome process to rid themselves of perfectly good products, increasing total levels of food wasted in Norway.

 

The challenges we face

Food waste is a significant and growing global issue. In Norway alone we wasted 417,000 tons of food in 2019, representing 1.3m tons of CO2e. Globally, food waste represents 8% of global GHG emissions, and is recognized by the UN as one of the most important climate initiatives shall we succeed in reaching our climate goals.

 

What is the outcome

Holdbart provides a distribution outlet for products which otherwise would have been wasted, allowing for more efficient use and distribution of food which is already produced and ready for human consumption.

 

Who are the stakeholders

Holdbart is based in Norway, benefitting different stakeholders throughout its ecosystem. First and foremost, it offers a sustainable bargain to its customers, who see savings of 20-90% compared to conventional grocery shopping. As a result, Holdbart helps improve household economics with affordable groceries. Secondly, it provides a practical distribution channel for suppliers looking to sell products which conventional outlets will not buy. In addition, it allows suppliers to continue product innovation as well as produce seasonal products, as Holdbart can distribute failed product launches and surplus production.

 

How big is the effect, and does it last?

In 2020, Holdbart saved ~6,500 tons of food waste, implying ~20k tons of CO2e saved. Furthermore, it conducted ~1.5M transactions, supporting families, students, and other consumers in reducing their spending levels on groceries. Holdbart itself had internal waste levels of only ~0.4% during the same period, ensuring nearly all its inventory reach Norwegian households – as they are supposed to.

If Holdbart didn’t exist…

Without Holdbart, a significant amount of food and retail products would go to waste which otherwise could have been sold to the consumer. As a result, individuals and families would spend significantly more on their regular grocery shopping. Furthermore, food producers and other suppliers would have a cumbersome process to rid themselves of perfectly good products, increasing total levels of food wasted in Norway.

 

Impact risk: what can go wrong

Through its website, Holdbart manages personal data and contact details which must be safeguarded. This is dealt with through strict routines and oversight. Additionally, store employees engage in physical work and heavy lifting in the warehouse. To mitigate this, Holdbart continues keeping a strong focus on HSEQ routines and guidelines. Lastly, Holdbart does operate multiple physical stores with a respective carbon footprint but are deliberate in minimizing their environmental impact.

Through its website, Holdbart manages personal data and contact details which must be safeguarded. This is dealt with through strict routines and oversight. Additionally, store employees engage in physical work and heavy lifting in the warehouse. To mitigate this, Holdbart continues keeping a strong focus on HSEQ routines and guidelines. Lastly, Holdbart does operate multiple physical stores with a respective carbon footprint but are deliberate in minimizing their environmental impact.

Year Aquired

2021

Revenue (2020)

318 mNOK

Employees

190

Investment Themes

Resource Efficiency

Sector

Food Retail / Food Surplus

Location

Norway

Contact

If you want to know more about Holdbart please contact Hannah Gunvor Jacobsen at: hannah.jacobsen@summaequity.com

Website

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