Another year has come to an end and the Christmas holiday is upon us after an unusual year.
2020 has in many ways been different, and the coronavirus has left its mark around the world. With changes to our everyday life and many of us having to work from home, we have all been introduced to the possibilities digitalization holds. Digital tools have allowed us to communicate on new and efficient platforms and enabled us all to maintain good collaboration and interactions in these special circumstances. Mutual exchange of knowledge, competence and experience has never been more important. In addition, sustainability, economic growth, effectiveness, globalization and health have all been widely discussed. The world is constantly changing, and we ensure that our work is sustainable so that future generations will get the same opportunities as we have. We at Reiten & Co will continue to contribute to profitable operations and growth, and to share our experience.
This year, we have seen a substantial positive development in the portfolio. Grilstad has entered the fresh ready-made food category, through its purchase of 49% of Matpartner. The sale of Malthus Uniteam was completed, and a great era is over. After Brubakken got a new CEO in December 2019, the company has had a strong profit improvement.
Con-Form is also experiencing solid profit development despite a challenging market. Competentia has strengthen its presence in Asia and Australia through the acquisition of Dare. Questback continues to deliver solid margins and sees results from investing in new growth. Scanship has changed its name to Vow and has entered several exciting contracts within both land-based and cruise. Navamedic and Observe Medical has raised capital to fuel for further growth. Navamedic is experiencing good organic growth and has expanded its portfolio in antibiotics and pain treatment. Observe Medical has made an important acquisition, and the company has entered into an updated distribution agreement for the launch of Sippi in Italy.
2020 has taught us a lot, and we look forward to continue our active ownership in 2021. Focus will still be on sustainable value creation, realizations and new investments.
We are grateful for the chance to spend Christmas with our closest family, but we see that there are others out there who are less fortunate. As previous years, we support The Church City Mission campaign «Gled en som gruer seg til jul» with the project «Julebordhelt» instead of sending out Christmas presents.
We wish you all a Merry Christmas and a Happy New Year!
Christmas greetings from Reiten & Co
