Iceland management buyout

The Flintshire-based food giant is bought out by a group that includes the man who founded it 40 years ago

Iceland bought out by the man who started it

Iceland retail boss Malcolm Walker today led a £1.45 billion deal to buy back the frozen food chain he founded more than 40 years ago.

The Flintshire-based business was bought back from its creditors, the collapsed Icelandic bank Landsbanki.

Mr Walker and his senior management team already held 23% of the business but will now have full operational and board control

I am utterly delighted that we have been able to conclude a deal that ensures a secure, independent future for this great British company.

– Malcolm Walker