Alantra is acting as exclusive financial advisor to Genossenschaft Migros Zürich (GMZ) on the announced exit from the grocery retail market in Germany and the sale of the tegut group.
As part of the transaction, an agreement has been reached with EDEKA on the acquisition of a majority of tegut stores as well as the central logistics operations and bakery, subject to customary regulatory approval.
The transaction underscores Alantra’s expertise as advisor in complex corporate carve-out situations.
Genossenschaft Migros Zürich is one of the ten regional cooperatives of the Migros Group. Headquartered in Zurich, GMZ operates a broad network of supermarkets, specialist stores and service formats across the greater Zurich region. The cooperative employs around 20,000 people and generates annual revenues exceeding CHF 4.2bn.
tegut is a German food retailer specializing in high-quality food retail with a strong focus on organic products and sustainability. Since 2013, GMZ has been its majority shareholder. The company generates more than EUR 1.3bn in annual revenue and employs around 7,800 people.
EDEKA is Germany’s largest supermarket operator and one of the leading food retailers in Europe. Founded in 1907, EDEKA has more than 10,800 stores, around 413,000 employees and generates annual revenues exceeding EUR 75.3bn.
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