Migros acquires a stake in Digitec
The management of the Federation of Migros Cooperatives MGB has approved the acquisition of a minority stake of 30 percent in Galaxus with its online stores Digitec.ch and Galaxus.ch. With the new partner, Migros aims to strengthen its position in the online business.
In a first step, Migros has acquired 30 percent of Galaxus, owner of the online stores Digitec.ch and Galaxus.ch, the new virtual department store. In the longer term, there is an option to take over the majority of shares in Galaxus, according to a Migros statement. The board of directors will have equal representation. Herbert Bolliger, President of the General Management MGB, Dieter Berninghaus, Head of the Retail Department and Oskar Sager, Head of the Marketing Department as well as the three founders of Galaxus, Marcel Dobler, Oliver Herren and Florian Teuteberg will sit on the Board of Directors. This will remain the case even after a possible takeover of the majority of shares by Migros, the statement continues, and Digitec and Galaxus will continue to be managed as independent companies and brands.
The parties have agreed not to disclose the purchase price. The transaction will be realized as soon as possible, subject to approval by the Swiss Competition Commission Weko.
