Coop Denmark is entering the real-estate market by investing in Brikk, one of Denmark's 10 largest estate agencies. The retail group has purchased nearly 10% in the real estate firm. Brikk is one of the country's 10 largest estate agents and is known for its unique concept which attempts to challenge a conservative industry. It allows customers to show the property themselves for a fixed fees of €1680, or engage local Brikk brokers to show the property for €3293.
CEO of Coop Invest, Jan Madsen, said: "Brikk is an incredibly exciting company. They have grown big, really fast, and we believe they have the potential to become Denmark's largest real estate broker. From the moment we started the process with Brikk, it was clear to us that there was a match in values and in the way business is done. We have also been impressed by the company's high level of service and Brikk's team. This is not only on the management side, but also the high calibre of estate agents across the country that they have been able to attract."
Brikk founder Sebastian Beres, added: "We are incredibly proud to have brought in such a respected partner as Coop. In many ways, Coop represents what Brikk does: high quality and service at a fair price. Just as Coop and FDB rebelled against monopolies and overpriced groceries in 1896, Brikk's goal is to do away with an industry that has been stagnant in many ways, especially in price and transparency. From the beginning, it has been clear to us that there was a match in values and ideas with Coop on how to make Brikk Denmark's largest real estate broker."
