Frozen-food specialist Iceland was founded by entrepreneur Sir Malcolm Walker in 1970 with a single store in Oswestry, Shropshire.
The retailer subsequently grew and was floated in 1984. A landmark moment came in 1989 when Iceland acquired rival Bejam, strengthening its presence in the south of England and making it a nationwide player.
In 2000 came another big deal – the acquisition of cash and carry giant Booker – now owned by Tesco – adding a wholesale business to complement the retail chain.
However, the same year the business hit turbulence when new management was installed and Walker was ousted. The business was renamed the Big Food Group, but problems persisted and, in 2005, Walker and his team returned as Iceland was taken private. Walker subsequently led a management buyout in 2012.
Iceland has been a frequent retail innovator. It lays claim to the launch of the UK’s first grocery home shopping service and has been a prominent campaigner for the reduction of plastic use, a drive led by Walker’s son Richard.
Iceland also runs the Food Warehouse chain of larger food stores.
The Iceland boss’ damning indictment of the Conservatives and endorsement of Labour may be polarising in and of themselves, but it highlights the depth of the government’s business troubles as it limps into an election year.
Iceland boss Richard Walker has formally backed the Labour Party and its leader Sir Keir Starmer to be the next prime minister.
Iceland executive chair Richard Walker, who was expected to become a Conservative MP, has quit the party, labelling it “out of touch”.
Amazon and Iceland have signed a deal for the ecommerce giant to sell the supermarket’s food on its website.
Frozen food specialist Iceland has cut the price on 200 of its “most popular products” as part of the launch of its money-saving initiatives to “help parents who are feeling the pinch during the school summer holidays”.
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