Subject to approval by the competition authorities, Coop will take over the Swiss DIY company Jumbo and its 40 stores from Maus Frères SA. The Jumbo store network is an ideal addition to the Coop Group. During the period of the official check being conducted by the competition authorities, Coop will engage in further planning.
Didier Maus, Chairman of the Board of Directors of Maus Frères SA, explains: «It was very important for us to offer the Jumbo employees a new solid and determined shareholder with a long-term vision, which is the case with Coop. This transaction is part of the Group’s strategy to focus on core business and its DNA, on the one hand with our leading and trendy department store chain Manor, and on the other, with our world-famous, contemporary premium brands under the name MF Brands Group. This will strengthen our already considerable financial possibilities and enable us to exploit potential opportunities to take over other premium brands.»
Joos Sutter, Chairman of the Executive Committee of the Coop Group Cooperative, says: «We are confident that we have thus created the ideal basis for the future for all parties. I am looking forward to welcoming the new employees to the Coop family.»
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