Walker to regain control of Iceland Malcolm Walker, founder and chief executive of Iceland Foods, is poised finally to regain control of the value supermarket, in a £1.5bn deal. Under the terms of the deal, expected to be announced shortly, Mr Walker and Iceland's management will have about 42 per cent of the business. Investors, including the Landmark Group, Lord Kirkham, founder of furniture chain DFS, and Brait, the investment vehicle of Christo Wiese, who owns a significant stake in South African retailer Shoprite, will hold 58 per cent, according to people familiar with the situation. Although Mr Walker and management will have a minority stake, Mr Walker will have board and operational control of Iceland Foods, which he founded in 1970 with a single shop selling loose frozen food in Oswestry in Shropshire. Andy Pritchard, managing director of Iceland Foods, who had about 6 per cent of the business, will leave the retailer. The enterprise value of the deal is £1.45bn, as there is cash in the business, while the equity value is £1.55bn. The deal is expected to have £860m of senior debt, provided by Nomura, Deutsche Bank, HSBC and Credit Suisse.