Coffee giant Arvid Nordquist Handelsaktiebolag was founded in 1884 by the man who also named the company, namely Arvid Nordquist. With the exception of a short period after his death, the company is still family-owned today and has grown into a huge coffee empire both in Sweden and abroad.
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In the same year that the coffee company was founded, the founder also took over a delicatessen and spice stall at Östermalm in Stockholm. In 1910, Arvid Nordquist was appointed royal court supplier by the then king Gustav V. Another triumph was when the company supplied the Queen Elizabeth II of England with Russian caviar on her and Prince Philip wedding in 1947.
When the coffee king died in 1922, the business was taken over by Ernst Thelen and when he later died in 1941, the company was taken over by the founder’s son, Bengt Nordquist until 1975. After that, the grandchildren took over and now the company continues to be family-owned. Arvid’s grandson, Anders Nordquist joined the company in 1990 and assumed the role of CEO in 1995, a position he still holds today.
And Anders Nordquist is in no trouble. According to the latest data from the Swedish Tax Agency, which News24 took part in, he had an earned earned income in 2022 of SEK 6,994,400. This means that he had an average monthly salary of SEK 582,866.
In addition to a stable income, he also lives at one of Sweden’s most expensive addresses, in a 364-square-meter condominium on historic Strandvägen in Stockholm. According to the site Hemnet.se an almost equally large home at the address was sold for SEK 70 million in 2021.
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Anders Nordquist’s big tax hit
In September 2023, however, the company’s CEO suffered a serious tax blow. This is because, according to the Tax Agency, he used the subsidiary’s luxury yacht without reporting it as a benefit. The miss cost a lot, as he was increased by SEK 12 million, which Today’s industry wrote about.
“The incorrect information has resulted in taxation for the respective income years 2017-2019 being too low by significant amounts. The inaccuracies were only discovered after the Swedish Tax Agency’s investigation,” the Swedish Tax Agency’s document says.
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Arvid Nordquist’s assets and heirs
Nowadays, in addition to coffee, the company’s range also includes beer, wine, tea and household products. Some of the brands include Kelloggs, Mr Muscle, Fuller’s, McIlhenny Tabasco, Pringles, Champagne Bollinger, Peroni and Pilsner Urquell.
According to the latest data from Alla bolag, Arvid Nordquist Handelsaktiebolag reported a turnover of a whopping SEK 4.1 billion. During the same period, the company’s assets were measured at SEK 1.6 billion.
The latest member of the family business, who has sprung from the founder, is Anders Nordquist’s son, Wilhelm Nordquist, who is also highly involved in the company in the role of purchasing manager. And when the company is doing well, the finances of the people behind the success are also usually stable.
According to the Tax Agency’s latest information, during the same period as his father, he had an earned earned income of SEK 2,340,100, which gives him an average monthly salary of SEK 195,008. The son also had a surplus of capital of SEK 526,188.
The heir, Nordquist, also lives in central Stockholm, in a 104 square meter condominium on Skeppargatan. The home’s value is estimated at up to SEK 7.7 million.
Source: Arvid Nordquist, All companies, Tax Agency