Transgourmet acquires GM FOOD
Niederer Kraft Frey advised Transgourmet on the acquisition of GM FOOD.
Transgourmet is part of the Swiss Coop Group and is active in Switzerland, Germany, France, Austria, Poland, Romania and Russia. With more than 28’000 employees, Transgourmet generates net sales of approximately CHF 8.1 billion.
The Coop Group operates in the retail as well as wholesale and production sectors. In the retail sector, Coop operates supermarkets and various specialist formats in Switzerland. In wholesale, the Coop Group operates through Transgourmet. With more than 90’000 employees, Coop generates net sales of approximately CHF 30.2 billion.
GM FOOD, Spain, is a company with a long tradition that operates 70 cash & carry markets and acts as a wholesaler to around 800 Suma, Proxim and Spar branded supermarkets as well as some 2’500 additional retail outlets. With a workforce of 2’400 employees and annual net sales of over EUR 1 billion, GM FOOD has held a successful position in the market for decades. GM FOOD will strengthen Transgourmet’s position in the European wholesale supplies and cash & carry market.
With this transaction, Transgourmet will enter the Spanish market, one of the largest gastronomy markets in Europe. The acquisition will expand Transgourmet’s position as one of the market leaders in the European wholesale supplies and cash & carry market.
The completion of the transaction is subject to approval by the European Commission’s Directorate-General for Competition.
The NKF team was led by Corporate/M&A partner Moritz Maurer, working with associate Samuel Hochstrasser and junior associate Reto Seiler (both Corporate/M&A).