ITAB signs agreement for delivery of loss prevention solutions to leading European grocery chain

ITAB Group (“ITAB”) has signed an agreement with a leading grocery chain for the delivery of entrance & exit gates with integrated software aimed at improving loss prevention in their stores across Europe. The implementation will begin in May 2024 and the total value of the contract is estimated for at least MEUR 8 over three years.

Together with the customer, a Dutch based leading grocery chain with global footprint, ITAB has developed tailored loss prevention solutions for the customer’s stores with the aim of reducing the risk for theft and shrinkage. Under the contract, ITAB will deliver and install products and software in stores across several European countries, including the Netherlands, Belgium, Czech Republic, Serbia, Romania, and Greece.

“ITAB’s loss prevention solutions continue to be recognized by our customers. I am proud over the efforts behind this contract from our team in Central Europe since this is a leading grocery retailer to whom we have not sold this type of solutions before. The value of the order is at least MEUR 8 with potential to increase significantly to well above MEUR 10 through additional product, software and service sales. However, our focus is to secure successful first installations and realisation of the desired outcome for our customer.”, says Andréas Elgaard, President & CEO of ITAB Group.

The total value of the products and other services under the contract is estimated for at least MEUR 8 over three years.

Jönköping, 4 April 2024

ITAB Shop Concept AB (publ)

This information was submitted for publication at 2:00 p.m. CEST on 4 April 2024.
   This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.