Milestones in the history of 1912 ehf.
1912
Nathan & Olsen was established on 1 January 1912 by two Danish entrepreneurs, Fritz Nathan and Carl Olsen. The company was successful from the start, engaging in a range of profitable activities. The company was engaged in import and export activities, exporting agricultural and fisheries products and importing various necessities. The company operated branch offices throughout Iceland and, for a while, owned a cargo ship that sailed between ports in Iceland and overseas.
1912 was in many ways a progressive year in the history of Iceland, in spite of some economic difficulties. Seven trawlers were added to the fisheries fleet, and the bridge over the river Ytri-Rangá was completed at the end of summer. The establishment of Nathan & Olsen can be seen as one of the progressive developments in the Icelandic business sector that year.
1914
John Fenger became a partner in the company that is today owned by his descendents.
That same year, Knud Zimsen became Mayor of Reykjavík and the First World War began.
1916
Nathan & Olsen built one of the first major buildings in Reykjavík. The building stands on the corner of Austurstræti and Pósthússtræti and was generally simply referred to as the Nathan & Olsen building. It was designed by architect Gudjón Samuelsson and was considered exceptionally elegant. It can also be mentioned that this was the first building in Reykjavík to be lit with electric lights.
1920-1924
This period was a rather difficult time in the company’;s operation. The large building on the corner of Austurstræti and Pósthússtræti was sold to Íslandsbanki and the company moved to Vesturgata 2, where it remained until 1968.
1941
The company decided to stop exporting agricultural and fisheries products and to concentrate instead on imports.
The Second World War was in full swing. On 7 July the US army arrived in Iceland to take over the military protection provided by the British, who had occupied Iceland the previous year. The arrival of the US troops led to considerable improvements in the economy and Icelanders benefited greatly - Nathan & Olsen’;s increased focus on imports couldn’;t have been better timed, given the newly increasing purchasing powers.
1942
The company opened an office in New York which remained open throughout the War, when routes between countries in Europe were closed. At this time many of the brands that would become well known in Icelandic households right up to the present day were found and sales agreements reached.
1968
Nathan & Olsen moved into new premises built by the company in Ármúli 8. The sale of foodstuffs and household articles, and commission trade in construction materials were the main focus of the company around this time, and remained so through to the latter part of the 1980s.
1988
The company decided to concentrate on importing foodstuffs and to stop importing and trading in other goods. It moved to Vatnagardar 20.
1994
A period of acquisitions begins. Times had changed in the market, and the company needed to expand in order to increase its efficiency and further strengthen its foundations.
1999
The decision is made to divide the company’;s operations into units. The wholesale company Ekran ehf. was purchased and merged with the catering supplies department of Nathan & Olsen. At the same time, Nathan & Olsen was divided into three companies, i.e. the marketing company Nathan & Olsen hf., the holding company 1912 and the property company Sökklar - 1912 ehf.
2008
1912 ehf. is one of the largest grocery wholesalers in Iceland. Through its subsidiaries Nathan & Olsen hf. and Ekran ehf., the company boasts extensive distribution systems to retailers, caterers, the industrial sector, etc.
1912 has 80 members of staff and has operating units in Reykjavík and Akureyri. The company’;s headquarters are in new premises at Klettagarðar 19.