Who Owns Anora Company?

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Who Owns Anora Group?

Anora Group Plc, a significant player in the Nordic beverage sector, was established on September 1, 2021, through the merger of Altia Plc and Arcus ASA. Headquartered in Helsinki, Finland, the company operates across the Nordic and Baltic regions.

Anora Group's formation aimed to build a leading wine and spirits brand house with a global industrial presence, prioritizing sustainability. The company reported net sales of EUR 692.0 million in 2024 and employs around 1,200 people, with its shares traded on Nasdaq Helsinki.

Understanding Anora's ownership is key to grasping its strategic direction. The company's journey began with the merger of Altia and Arcus, creating a new entity focused on growth and responsible practices. For a deeper dive into the external factors influencing the company, consider the Anora PESTEL Analysis.

Anora Group Plc's ownership at its inception on September 1, 2021, was a direct result of a cross-border merger between Altia Plc of Finland and Arcus ASA of Norway. This strategic combination established the current Anora Group, with its initial shareholding reflecting the former shareholders of these two entities.

Merger-Driven Formation

Anora Group was not founded by individual entrepreneurs but emerged from a statutory absorption merger. This process legally combined Altia Plc and Arcus ASA.

Initial Shareholder Distribution

Following the merger, shareholders of the former Arcus received new shares in the combined entity. This distribution determined the initial ownership percentages.

Ownership Stakes

Arcus shareholders collectively gained approximately 46.5% ownership in Anora Group. Conversely, former Altia shareholders retained approximately 53.5% of the new company.

Share Capital and Structure

At its formation, Anora Group had a total of 67,553,624 shares. The company's share capital was established at EUR 61,500,000.

Pre-Merger Influence

While specific founder equity splits for Altia and Arcus are not detailed for Anora's inception, the initial Anora Group ownership was significantly influenced by the major shareholders of the preceding companies.

Anora's Public Status

Anora Group Plc is a publicly listed company. Its shares are traded on the Nasdaq Helsinki and Nasdaq Stockholm stock exchanges, indicating broad public ownership and investor relations.

The Anora Group ownership structure at its inception was directly shaped by the shareholders of Altia Plc and Arcus ASA, the two entities that merged to form the company. This merger, registered on September 1, 2021, resulted in former Arcus shareholders holding approximately 46.5% of Anora, while former Altia shareholders retained about 53.5%. The total number of shares issued at the company's formation was 67,553,624, with a share capital of EUR 61,500,000. Understanding these initial stakes is key to grasping the Anora Group ownership. The company's history of ownership can be further explored in the Brief History of Anora.

Key Ownership Details at Formation

The initial Anora Group ownership was determined by the share exchange during the merger of Altia and Arcus. The distribution ensured that shareholders from both original companies became stakeholders in the new entity.

• Anora Group Plc was formed through a merger, not traditional founding.
• Former Arcus ASA shareholders received 46.5% of Anora Group.
• Former Altia Plc shareholders retained 53.5% of Anora Group.
• The total share capital at inception was EUR 61,500,000.

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Anora Group's ownership journey has seen significant shifts, particularly with its initial dual listing on Nasdaq Helsinki and the Oslo Stock Exchange in September 2021, followed by a delisting from Oslo by year-end 2021. These structural changes have paved the way for the current stakeholder landscape.

The current Anora owner structure, as of February 27, 2025, indicates a strong presence of institutional investors. Canica AS stands as the largest shareholder, holding 22.40% of the company's shares, followed closely by Solidium Oy with 19.40%. This concentration among major shareholders, including other significant institutional investors like Varma Mutual Pension Insurance Company, Ilmarinen Pension Insurance Co. Ltd, WestStar Oy, and Elo Mutual Pension Insurance Company, suggests a focus on long-term value creation and stability within the Anora Group ownership. These substantial stakes often translate into active engagement in corporate governance and strategic decision-making. Understanding the Revenue Streams & Business Model of Anora can provide further context to the motivations of these key Anora stakeholders.

Key Anora Stakeholders

The Anora Group ownership is characterized by a significant concentration of shares among a few key entities.

• Canica AS is the primary Anora owner with 22.40%.
• Solidium Oy holds the second-largest stake at 19.40%.
• Several large pension insurance companies are also key Anora stakeholders.
• This institutional ownership influences Anora company structure and strategy.

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As of April 15, 2025, Anora Group Plc's Board of Directors consists of eight members: seven elected by shareholders and one by employees. Michael Holm Johansen chairs the board, with Jyrki Mäki-Kala serving as Vice Chairperson. This structure reflects the company's commitment to diverse representation in its governance.

The board's composition is closely tied to Anora's ownership structure, with key members representing significant shareholders. Christer Kjos, CEO of Canica Holding AG, and Annareetta Lumme-Timonen, Investment Director for Solidium Oy, are directors who, while deemed independent of the company itself, are not considered independent of major shareholders. Anora operates under a strict one-share-one-vote principle, ensuring that each share holds equal voting power. The Shareholders' Nomination Board, responsible for proposing board candidates and their compensation, includes representatives from major shareholders like Stein Erik Hagen (Canica AS) and Petter Söderström (Solidium Oy), underscoring their influence on the company's direction and corporate governance.

Anora Group Ownership and Governance

Understanding Anora Group ownership is crucial for grasping its strategic direction. The company's governance framework is designed to balance the interests of various stakeholders.

• Anora operates with a one-share-one-vote system.
• Major shareholders influence board nominations through the Shareholders' Nomination Board.
• The board includes both shareholder-elected and employee-elected members.
• Independence assessments consider relationships with major shareholders.
• The Marketing Strategy of Anora is influenced by its ownership structure.

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Anora Group has seen significant shifts in its leadership and strategic initiatives over the past few years, impacting its ownership landscape. These changes include new executive appointments and authorizations for share repurchases and issuances, reflecting an active approach to capital management and corporate development.

These developments, including leadership transitions and strategic divestitures like the sale of Larsen Cognac, aim to optimize the company's structure and respond to market conditions, such as the reported headwinds in the European beverage industry during the second quarter of 2025.

Leadership Evolution

Recent executive appointments, including a new CEO and CFO, signify a strategic realignment of Anora Group's leadership team. These changes are crucial for navigating the evolving market landscape.

Capital Structure Adjustments

The authorization for share repurchases and issuances indicates a proactive approach to managing the company's capital. This flexibility supports strategic growth opportunities and shareholder value.

Portfolio Optimization

The divestment of certain brands, such as Larsen Cognac, and acquisitions like Saturnus AB's purchase of Snälleröds, demonstrate a focused strategy on streamlining the brand portfolio. This aims to enhance operational efficiency and market focus.

Incentive Schemes and Dilution

New long-term incentive schemes for management and key employees are designed to align interests and drive performance. These schemes may lead to gradual changes in insider ownership and the overall shareholding structure.

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