Hakon Swenson started Hakonbolaget in 1917 in Västerås, Sweden, from which today’s ICA originated. In 1972 the ICA agreement formed the foundation for the modern ICA model. The ICA agreement is a unique way of preserving the ICA Idea by giving talented store employees the opportunity to become business owners with a small financial investment and low risk.
The system by which ICA stores jointly finance new stores and coordinate marketing activities is an extension of the original ICA Idea and an example of the innovation that has had a significant impact on the Swedish grocery retail market.