Germany:Migros takes over German supermarket chain Tegut

It's official: Migros will acquire the German supermarket chain Tegut in January. The acquisition had been anticipated for a month. The amount of money involved in the acquisition is not known. The industrial and agricultural affairs of Tegut remain in the hands of the Gutberlet family.

300 stores and 6300 employees

Tegut occupies a special place in the German retail sector. The chain introduced organic food almost 30 years ago, and this decision was ridiculed at first. Alongside the organic food, Tegut also offers traditional groceries. Nowadays, the organic-products account for about a quarter of its turnover. This is more than an average store.

Tegut had a turnover of around 1.16 billion Euro in 2011. The chain consists of 300 stores and it employs 6300 people. The shops are primarily located in Hessen, Thuringia, and northern Bavaria.

Migros

The market leader of Swiss retail, aims to continue to expand abroad. The German food industry is growing faster than the Swiss. "Expansion in Switzerland for Migros is only conditionally possible," responds Edi Class, chairman of Migros Zurich.

Through the acquisition of Tegut, Migros will continue to expand in Germany. Migros Basel already has five of its own supermarkets in southern Germany. And since August of this year, Migros co-operates with German eco-supermarket chain Alnatura. The first Migros Alnatura store already opened in Zurich-Höngg.

Source: Blick.ch