Type Aktieselskab Subsidiaries KK Engros (62%) Revenue 925 million DKK Net income 51 million DKK | Number of employees 623–650 Founded 2001 | |
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Key people Per Steen Larsen (Adm. Director) | ||
Pisiffik A/S are a chain of Greenlandic stores. The company is the largest privately owned commercial company in Greenland. Formerly a division of KNI, it is now a subsidiary jointly owned by Dagrofa, the Danish food concern, and Greenland Venture, a state-owned investment firm.
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History
Pisiffik was first established in 1993 as KNI Pisiffik A/S, a subsidiary of Greenland's KNI conglomerate. Based in Greenland's larger towns, it was an experiment in running the stores without a government subsidy, while KNI Pilersuisoq continued to operate the more distant and less profitable outposts. The present Pisiffik A/S was spun off as a separate company in 2001 and the competition between the two chains blossomed into a price war after KNI opened a discount Pilersuisoq in Aasiaat in 2008.
Both companies were state-owned at the time but, on 16 June 2010, Dagrofa, a Danish firm, bought most of Greenland Venture's stake in the company and became the majority holder.
Operations
Pisiffik's roughly 30 stores are restricted to the six largest towns in Greenland, with stores in Aasiaat, Ilulissat, Maniitsoq, Nuuk, Qaqortoq, and Sisimiut.
Brands
Pisiffik A/S includes the following brands: Pisiffik supermarkets, SPAR grocery stores, Pisattat consumer electronics stores, Torrak Fashion clothing retailers, and Jysk and Idemøbler furniture stores.
Pisiffik also holds a 62% stake in wholesaler KK Engros.