Norwegian owners of Reitangruppen, one of the country’s largest grocery store chains. Reitangruppen also holds grocery and convenience stores throughout Scandinavia and the Baltic region.
The family business began in 1948 when Ole Reitan opened a store in Trondheim. Ole’s son, Odd Reitan, opened his first store, Sjokkpris, once he graduated university in 1972 and ran the business with his father. Odd opened the first REMA 1000 store in 1979, which was based on the chain-store model that was being developed abroad. Odd Reitan is the sole owner of Reitangruppen, which comprises the family’s group of stores, and has an estimated net worth of $4.9 billion.
Odd Reitan’s son, Ole Robert Reitan, joined REMA 1000 as its marketing director in 2001 and now heads all of its operations. He also serves on the board of Reitangruppen.
Ole’s brother, Magnus Reitan, heads Reitan Kapital, the family’s investment vehicle. Magnus previously served as CFO of Reitangruppen, Reitan Invest and Allegro Finans. Magnus is also a member of Reitangruppen’s board.
