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Lagkagehuset (Danish: [ˈlɑwkʰɛːjəˌhuˀsð̩]; trading as Ole & Steen [ˈoːlə ʌ ˈste̝ˀn] in English-speaking countries[3][4]) is a Danish bakery chain with over 100 branches in Denmark, London, and New York City.[1][5][6]
 The first branch of Lagkagehuset in Copenhagen | |
| Ole & Steen | |
Native name | Lagkagehuset |
| Industry | Bakery |
| Founders |
|
| Headquarters | , Denmark |
Number of locations | 119 (2021) |
Area served | |
Key people | Jason Cotta (CEO) |
| Owners |
|
Number of employees | ≈2,700 (2020) |
| Website | lagkagehuset |
| Footnotes / references [1][2] | |
The present-day business was formed in 2008 through a merger of Ole Kristoffersen and Steen Skallebaek's bakeries, both founded in the early 1990s.[4][7] Originally owned by private equity firm FSN Capital, it was sold in 2017 to Nordic Capital for a reported kr. 1,000,000,000.[8][9] Kristoffersen and Skallebaek stepped down from the board at the time of the sale.[10] Later that year, L Catterton acquired a 20% stake.[11] The current CEO is Jason Cotta, former managing director of Costa Coffee in the United Kingdom.[12]
In May 2020, the company came under social media scrutiny about their ownership structure and allegations this might enable tax avoidance. The controversy emerged in connection with their receipt of funding from the Danish coronavirus relief package. This prompted the company to issue their accounts early, indicating domestic tax payment.[13][14][15]
References
edit- ^ a b "Company report, May 2021" (PDF). Lagkagehuset. Retrieved 9 June 2022.
- ^ "Kontakt os". Lagkagehuset. Retrieved 9 June 2022.
- ^ "Ole & Steen: The height of hygge". The Week. 19 December 2016. Retrieved 9 June 2022.
- ^ a b Curtis, Nick (1 December 2016). "Scandimania — now the Danes are hijacking our bread bins". The Times. ISSN 0140-0460. Retrieved 9 June 2022.
- ^ Fabricant, Florence (2019-01-22). "New York Gets a Fresh Batch of Bakeries From Abroad". The New York Times. ISSN 0362-4331. Retrieved 2019-04-25.
- ^ Marlow, Ben (2017-11-10). "Danish baker Ole & Steen wins French approval". The Telegraph. ISSN 0307-1235. Retrieved 2019-04-25.
- ^ Novac, Dragos (13 October 2008). "FSN Capital III invests in a high quality bakery chain through the merger of Lagkagehuset and Skallebæks Bageri". Nordic 9. Retrieved 2022-06-09.
- ^ "Nordic Capital acquires leading bakery and food-service chain Lagkagehuset | Nordic Capital". www.nordiccapital.com. Retrieved 2020-05-18.
- ^ Hamilton, Ben (5 July 2017). "Bakery chain sold for a reported billion kroner". The Copenhagen Post (in Danish). Retrieved 9 June 2022.
- ^ Kristensen, Mick (30 June 2017). "Makkerpar har solgt Lagkagehuset to gange: Så rige er de blevet". FINANS (in Danish). Retrieved 9 June 2022.
- ^ Louch, William (10 November 2017). "Nordic Sells Minority Stake In Danish Bakery Chain To L Catterton". Wall Street Journal.
- ^ "Ole Steen snaps up Costa Coffee MD as it steps up expansion". The Caterer. 2019-08-27. Retrieved 2020-05-18.
- ^ Rossmeisl, Caroline (2020-05-18). "Stort millionunderskud hos Lagkagehuset midt i stormvejr: "Vi har ikke noget at skjule"". borsen.dk (in Danish). Retrieved 2020-05-19.
- ^ "Lagkagehuset er kommet i bad standing efter skattely-afsløring". Netavisen Pio (in Danish). 2020-05-18. Retrieved 2020-05-19.
- ^ Nielsen, Pernille Mohr (2020-05-18). "Skattespekulationer har sendt Lagkagehuset ud i en shitstorm: Nu tager direktør afstand fra at flytte penge ud af Danmark for at undgå at betale selskabsskat". borsen.dk (in Danish). Retrieved 2020-05-19.
External links
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