XXXLutz buys the furniture discounter Lipo
The Austrian furniture store chain XXXLutz takes over the furniture discounter Lipo with its 23 stores throughout Switzerland from the Steinhoff Group.
With 23 locations, Lipo Einrichtungsmärkte is one of the five largest Swiss furniture stores and is considered one of the leading retailers in the discount furniture market. XXXLutz has now bought the chain from the Steinhoff Group. According to a XXXLutz spokesperson, the headquarters in Pratteln will remain. Lipo will continue to be run independently in Switzerland by the existing management and will continue to operate independently in the Swiss market, he added.
The parties have agreed not to disclose the sale price. The relevant antitrust authorities still have to approve the transaction.
XXXLutz has already been represented in Switzerland since 2018. In addition to opening its own stores, the company has grown through acquisitions. It took over the Pfister Group and six Interior stores. (ah)
