1988-2000: Building the conglomerate

The packaging operations played a key role in the strategic development of Schouw & Co., from the early days of making paper bags in the rear building of a property in Copenhagen in 1878, the take-over of Jyllands Papir-Værk in 1930 and the focus on producing beverage packaging to the sale of a 50% stake to Norway-based Elopak for DKK 50 million in 1988.

The money received from this sale paved the way for Schouw & Co.’s important change in strategy: shifting away from a focus on a single business area and becoming a diversified industrial conglomerate.




1988 P. Grene

In 1988, Schouw & Co. acquired all shares in A/S P. Grene from the Grene family as part of a generational change in that company. At the time, Grene consisted mainly of A/S P. Grene, the parent company, and the two operating companies Chr. C. Grene A/S (spare parts and accessories for the agricultural sector in Denmark) and Hydra Grene A/S (hydraulic components for agriculture and industry in Denmark).

1989 Schulstad Gruppen

In 1989, Schouw & Co. acquired its initial shareholding in bread manufacturer Schulstad Gruppen A/S, and its ownership interest was gradually increased over the course of the following years. In 1999, Schulstad Gruppen changed its name to Schulstad A/S and by the end of 2001, Schouw held a 37.3% ownership interest in the company.

Schouw & Co. acquired a further 24.4% of the shares in Schulstad in March 2002, bringing its stake to 61.7%.

At the beginning of 2003, the Schulstad business was sold off to Swedish company Cerealia.

1994 Micon

In 1994, Schouw & Co. acquired a 25% stake in Micon A/S, in connection with Micon’s founder retiring. Schouw purchased more shares in the company in the years that followed.

In 1997, Micon A/S merged with Nordtank Energy Group A/S, a listed company, forming NEG Micon A/S, and Schouw & Co. remained the largest shareholder. 

NEG Micon A/S was combined with Vestas Wind Systems A/S in 2004, and Schouw & Co. became a shareholder of Vestas Wind Systems A/S.

1999 Martin Gruppen

In May 1999, Schouw & Co. acquired a majority shareholding in the listed company Martin Gruppen A/S from that company’s major shareholders. More shares were purchased in the time that followed, and by the end of 2000, the Schouw & Co. ownership share in Martin Gruppen was 69.2%.

In March 2001, Schouw & Co. submitted a tender offer to all shareholders of Martin Gruppen with a view to obtaining full ownership, an objective that was achieved in July 2001, after which Martin Gruppen was delisted from the Copenhagen Stock Exchange.