Migros sells Office World
Migros is selling the office supplies retailer Office World to the Austrian MTH Retail Group. The new owner will also expand the store network.
The Office World Group (OWiba) is regarded in Switzerland as a leading supplier of office supplies and consumables. MTH operates 770 stores in the stationery sector in Germany and Austria. The acquisition of 100 percent of OWiba's shares enables MTH to expand into Switzerland.
MTH is taking over all OWiba employees and the sales outlets. Office World currently operates 21 branches and two city stores throughout Switzerland. The parties have agreed not to disclose the purchase price.
"After carefully evaluating all strategic options, we have come to the conclusion that OWiba must benefit from economies of scale for a successful future," says Beat Zahnd, Head of the Retail Department at the Federation of Migros Cooperatives and member of the General Management.
Dr. Martin Waldhäusl, CEO of MTH Retail Group, is pleased to now also be represented in the Swiss market. "MTH Retail Group's strategy is to play a relevant role in shaping the specialty store segment in the stationery sector in Germany, Austria and Switzerland." To this end, Office World is to be put back on a growth track, he said, with a particular focus on expanding the Swiss store network.
The transaction is still subject to approval by the Austrian competition authorities.
