How it started
History
Kinnevik was founded as an investment company in 1936 by Robert von Horn, Wilhelm Klingspor and Hugo Stenbeck. The most important holdings when the company started were Mellersta Sveriges Lantbruks AB, Lidköpings Konfektyr Industri AB and Korsnäs Sågverks AB. The company grew quickly through share purchases and acquisitions of companies that included chocolate manufacturers Nordiska Suchard and Halmstads Järnverk.
The company's aggressive acquisition strategy of Swedish industrial companies continued during Kinnevik's first decades. The ownership structure of the investment company changed as Hugo Stenbeck gradually increased his holdings.
Kinnevik became a listed company and obtained additional capital in a new share issue in 1954. The first shares in Sandvikens Järnverk were purchased a few years after entering the stock market.
Hugo Stenbeck replaced Wilhelm Klingspor as chairman of Kinnevik in the early 1960s. Shortly thereafter, Hugo Stenbeck's oldest son, Hugo Stenbeck Jr, became managing director of the company.
Hugo Stenbeck Jr died in 1976 and his younger brother, Jan Hugo Stenbeck, joined Kinnevik's management team. Hugo Stenbeck Sr died in 1977.
From Wikipedia’s article on Kinnevik AB, shared under CC BY-SA 4.0.2