Coop takes over Jumbo
The retailer Coop buys the DIY chain Jumbo. This has previously belonged to the manor owner Maus Frères SA. Its branch network includes 40 stores.
Coop takes over the Dietlikon-based DIY store company Jumbo from Maus Frères SA. The chain with a total of 40 stores is an ideal complement to the Coop Group's locations, according to a media release . The purchase has to be approved by the Federal Competition Commission.
Maus Frères SA now wants to focus on its core business, explained Didier Maus, Chairman of the Board of Directors, in the announcement. This includes the department store chain Manor and the brands under the name MF Brands Group. In addition, the company is strengthening its financial base with the sale and is thus preparing for possible acquisitions of other brands.
Coop is convinced that with the acquisition “it has created an ideal basis for the future for all parties,” says Joos Sutter, CEO of the Coop Group Cooperative. With the current takeover of the DIY chain, Coop is buying the second part of Jumbo's business. In 2007 the retailer had already taken over the wholesale chain from Jumbo, in which Maus Frères and the French retail chain Carrefour each held half.