Odd Reitan is a Norwegian businessman. He is into wholesaler and retail franchiser of the Reitan Group or Reitangruppen. He is the co-owner and CEO of the Reitan Group of five important businesses.
It comprises of REMA 1000, Reitan Convenience, Uno-X, Reitan Eiendom [real estate] and Reitan Kapital. Over the years, Group has expanded to Norway, Sweden, Denmark, Finland, Estonia, Latvia and Lithuania. The Reitan Group is owned by Odd Reitan and sons, Ole Robert Reitan and Magnus Reitan.
Personal Life of Odd
Odd Reitan was born on 11th September 1951 in Trondheim, Norway, to Margit and Ole Reitan. He was born in. He lives in Trondheim, Norway. Odd Reitan is the co-owner and CEO of Reitan Group.
He is well-known as the founder of Reitangruppen. His title is Colonialmajor. In 1972, Odd Reitan married Marit Arntsen (b. 11th December 1952). They have two sons namely Ole Robert Reitan and Magnus Reitan. Odd Reintan lives in his houses in Spain and in Lade Gaard, Trondheim.
Family Influenced Business
History of his Company dates to 1948, when his parents opened the first grocery store called O. Reitan Colonial. In 1972, Odd Reitan opened AS Sjokkpris in Trondheim city centre. By 1976, he had opened many stores in the region. After his European trip with his father, he began his franchise adventure and expanded into real estate. In 1979, the low-price franchise was applied in REMA 1000 that expanded over many years. Any inhabitant that had over 10,000 residents had the REMA 1000 store opened. This spread to Denmark, Sweden, Poland, Hungary and Slovakia.
In 2004, services merged to form Reitan Convenience AS. This bought shares in Hydro Texaco in Denmark and Norway to begin service station chain YX Energi. Reitan Convenience was part of Shell in Scandinavia in 2007.
Reitan Group consists of REMA 1000, Reitan Convenience, Uno-X, Reitan Eiendom [real estate] and Reitan Kapital. It expanded to Norway, Sweden, Denmark, Finland, Estonia, Latvia and Lithuania. The Reitan Group is owned by Odd Reitan and his two sons – Ole Robert Reitan and Magnus Reitan. Headquarters of the group is at Lade Gaard in Trondheim, the centre of finance and culture. REMA 1000, Reitan Convenience and Reitan Kapital are operated from Oslo. Reitan Eiendom is operated from Trondheim. Uno-X is based in Oslo and Copenhagen.
Eldest Son
Mr. Ole Robert Reitan was born on 5th October 1971. He studied at Norges Markedshøyskole, Handelshøyskolen BI (Norwegian Business School). Ole Robert Reitan is the Chief Executive Officer at Reitan Handel AS. He is also the Chief Executive Officer of REMA 1000 AS and Head of REMA 1000 AS at Reitangruppen AS.
Ole Robert Reitan serves as a Director of Treschow-Fritzøe AS. He is a member of Supervisory Board at DNB Bank ASA. Ole Robert Reitan serves as a Director of Reitangruppen.
Youngest Son
Magnus Reitan was born in 1975. Magnus was educated at Norges Handelshøyskole (Norwegian School of Economics). He continued at Handelshøyskolen BI (Norwegian Business School) and Florida International University in the US. Magnus works as the CEO and heads the Reitan Kapital. Earlier, he worked as the CFO for Reitangruppen AS, CEO of Reitan Invest and Allegro Finans ASA. Magnus is a Member of the Board of Reitangruppen AS.
Net Worth of Odd
Odd Reitan is net worth $5.4 Billion. In 1972, Odd opened his first shop that is privately held Reitangruppen. This Norwegian grocery and convenience store is the fifth largest in Scandinavia and the Baltic. Odd Reitan earned around $10 billion (2015) from retail business, real estate, energy and oil. Odd’s son Ole Robert is the present CEO of REMA 1000, the grocery store chain. While his son, Magnus is the chief of Reitan Convenience.