- CEO
- Ásta Sigríður Fjeldsted
- Full Time Employees
- 1,686
- Sector
- Retail trade
- Industry
- Specialty stores
- Address
- Dalvegur 10-14 Kópavogur GR Iceland 5402062010
- IPO Date
- Dec 19, 2013
- Business
- Festi hf. is an Iceland-based holding company that owns and operates leading retail and service businesses focused on groceries, fuel, electronics, pharmacies, real estate, and logistics. Founded in 2006 and headquartered in Kópavogur, the company manages key subsidiaries including Krónan, which operates supermarkets, convenience stores, and online grocery sales with home delivery; N1, which provides fuel sales, electricity retail, service stations, tire and lubrication services, and automotive products; ELKO, Iceland's largest electronics retailer offering household appliances and smart devices through physical stores and e-commerce; Lyfja, a pharmacy chain providing prescription and over-the-counter drugs along with health services; Yrkir eignir, which handles non-residential real estate leasing to group companies; and Bakkann vöruhótel, specializing in warehousing, packaging, labeling, distribution, and alcohol wholesale. These operations serve consumer and business customers primarily in Iceland through an extensive network of stores, stations, warehouses, and digital platforms.
In July 2024, Festi completed its acquisition of the entire share capital of Lyfja hf. from SID ehf. for approximately ISK 7.1 billion, funded by cash and new shares, following approval from the Icelandic Competition Authority; this added pharmacy operations to its portfolio and prompted Lyfja's leadership to join Festi's executive management. The company, formerly known as N1 hf. until its rebranding in September 2018, continues to emphasize investment management, value creation, and growth synergies across its segments.