Transgourmet is acquiring 100% of the Spanish company GM FOOD, based in Vilamalla (Girona) subject to approval by the European Commission’s Directorate General for Competition. With this transaction, Transgourmet will enter the Spanish market, one of the largest gastronomy markets in Europe. The acquisition will expand Transgourmet's position as one of the market leaders in the European wholesale supplies and cash & carry market.
Entrance into Spain
GM FOOD is a company with a long tradition that operates 70 cash & carry markets and acts as a wholesaler to around 800 Suma, Proxim and Spar branded supermarkets as well as some 2,500 additional retail outlets. With a workforce of 2,400 employees and annual net sales of over EUR 1 billion, GM FOOD has held a successful position in the market for decades. GM FOOD has attractive growth potential and will strengthen Transgourmet's position in the European wholesale supplies and cash & carry market.
Founded in 2008 and based in Basel, Switzerland, Transgourmet is part of the Swiss Coop Group. Transgourmet is active in Switzerland, Germany, France, Austria, Poland, Romania and Russia. With more than 28,000 employees, Transgourmet generates net sales of approximately CHF 8.1 billion.
About Coop Group
The Coop Group operates in the retail as well as wholesale and production sectors. In the retail sector, Coop operates supermarkets and various specialist formats in Switzerland. In wholesale, the Coop Group operates through Transgourmet. The Coop Group has a history that goes back over 150 years and it has always been structured along cooperative lines. For the Coop Group, the focus is on the customers as well as their over 2.5 million cooperative members. With more than 90,000 employees, Coop generates net sales of approximately CHF 30.2 billion.
Hansueli Loosli, President of the Board of the Transgourmet Group: "I warmly welcome GM FOOD and all its employees as the newest member of the Transgourmet Group and look forward to developing the Spanish market together with them."
Lluís Labairu, CEO of GM FOOD: "I am confident that this new stage that we are beginning will bring us more knowledge and success and will allow GM FOOD to consolidate itself as a benchmark for food distribution in Spain with the support of the Transgourmet Group."
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