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Jumbo, the Swiss chain of DIY stores, is joining forces with Hagebau. With effect from 1 July 2019 the Dietlikon-based Jumbo-Markt AG will be a new shareholder in the German cooperative outfit.
With 39 DIY stores and sales latterly of around CHF 555 mio (EUR 495 mio), Jumbo is regarded as the number two in the Swiss DIY market. The wholly owned subsidiary of Maus Frères Holding has also been operating online since 2018. The two companies already had contact through the procurement cooperative Arena, which was co-initiated by Hagebau and of which Jumbo has been a member since 2007.
Hagebau had made a decision to enter the Swiss market around ten years ago, but has so far only been active in the speciality trade. With its new shareholder Jumbo-Markt AG now on board, it will also get involved in the Swiss retail trade. Jan Buck-Emden, chairman of the Hagebau board, is convinced that Hagebau's competitive strength can be increased further by this: "With our new shareholder Jumbo-Markt AG we will consolidate our presence in the German-speaking countries.""We believe that this decision will support our aim of continuously improving and expanding the range of services for our customers," says Ivo Casutt, managing director of Jumbo-Markt AG.
With 39 DIY stores and sales latterly of around CHF 555 mio (EUR 495 mio), Jumbo is regarded as the number two in the Swiss DIY market. The wholly owned subsidiary of Maus Frères Holding has also been operating online since 2018. The two companies already had contact through the procurement cooperative Arena, which was co-initiated by Hagebau and of which Jumbo has been a member since 2007.
Hagebau had made a decision to enter the Swiss market around ten years ago, but has so far only been active in the speciality trade. With its new shareholder Jumbo-Markt AG now on board, it will also get involved in the Swiss retail trade. Jan Buck-Emden, chairman of the Hagebau board, is convinced that Hagebau's competitive strength can be increased further by this: "With our new shareholder Jumbo-Markt AG we will consolidate our presence in the German-speaking countries.""We believe that this decision will support our aim of continuously improving and expanding the range of services for our customers," says Ivo Casutt, managing director of Jumbo-Markt AG.
