Norway’s leading retailer of surplus food items
Holdbart at a glance
Holdbart is Norway’s leading retailer of surplus food items, saving excess products which suppliers are unable to sell to conventional grocery chains and retail outlets. Products that are discontinued, overstocked, nearing their expiry date, or have old or faulty labels can be sold in Holdbart’s physical stores or on their website, offered at an up to 90% discount compared to their original prices.
- Year acquired
- 2021
- Sector
- Food Retail, Food Surplus
- Revenue
- EUR 67m
- Location
- Norway
- Employees
- 307
- Website
- https://www.holdbart.no/
- Investment theme
- Resource Efficiency
- Contact
- hannah.jacobsen@summaequity.com
Key developments in 2023
Holdbart saw top-line growth in NOK of 47% during 2023, driven by the opening of three new stores, like-for-like / same-store growth (+12%) with macroeconomic conditions urging customers to explore better-value alternatives, and strong momentum in its wholesale subsidiary acquired in 2022. In addition, it has signed three new store locations with opening in 2024.
What are the challenges Holdbart addresses
-
450tons
of food wasted in Norway in 2020.
-
1.3m
of CO2e emissions from food waste in Norway in 2021.
How does Holdbart help?
Reality today
Our food value chain is inefficient, with unnecessary waste from surplus food products due to overproduction, seasonal products, campaigns, and faulty items.
Holdbart approach
Holdbart purchases surplus food items and through its physical retail stores ensures access to affordable food items that would otherwise go to waste.
Aspirational future
A less wasteful, more circular food system that supports access to affordable food.
Who is impacted?
Producers, importers, and wholesalers gain a practical distribution channel for food that otherwise would have been wasted. Consumers across regions in Norway, including lower-income individuals and families, get a more affordable and sustainable shopping basket.
Contribution
Holdbart contributes to significant decrease of food waste by selling food and retail products that would otherwise go to waste.
Risks
Holdbart has limited control of the operations of its suppliers, as well as consumers use of the products it sells and product end-of-life.
