Unibet Group will now operate as Kindred Group in an effort to expand the company’s multi-brand strategy.
“As Kindred we can create a greater distinction between our consumer-facing brands and the group brand, providing us with the necessary strategic flexibility to ensure we remain at the very forefront of our industry,” said Henrik Tjärnström, chief executive officer of Unibet Group, in the company’s release. “As a group we have played an important part in driving the industry forward, and we intend to continue to do so in the future.”
According to the release, shareholders met for an extraordinary general meeting in Stockholm and approved the change from Unibet Group plc to Kindred Group plc Dec. 6. The company was founded almost 20 years ago and has 10 consumer-facing brands – some of which were acquired – in its portfolio.
The latest acquisition, that of Maria Casino in 2007, kicked off the changes by delving into the group’s new strategy to have multiple brands under the heading of the now Kindred Group brand.
“We are now in a position to move Kindred Group into the future with enhanced clarity and flexibility, creating better conditions for future growth in a dynamic and changing business environment,” said Anders Ström, chairman of the board of directors of Unibet Group, in the release.
The new name, kindred, refers to “a relationship between people with similar beliefs, values and attitudes” and was chosen based on an analysis of the group’s culture and identity.