Coop: Green light for takeover of Jumbo
Coop can take over the DIY chain Jumbo with its 40 stores as planned. The Competition Commission has approved the transaction.
Coop had announced the acquisition of Swiss DIY retailer Jumbo from Maus Frères SA at the beginning of April this year. Jumbo's store network ideally complements the Coop Group's locations, it said in a statement at the time. Coop already operates Bau + Hobby, a DIY chain with more than 80 stores in Switzerland.
The family holding Maus Frères had justified the sale of Jumbo with strategic considerations: It wanted to focus on its core business with the Manor department store chain and the premium brands under the name MF Brands Group. (ah)
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