The South African-owned Spar Group is planning to sell its Swiss subsidiary, Schweizer Spar Handels AG. The company confirmed the sale in a press release, stating it is actively searching for a
new owner who will support its current management team’s growth strategy. It also emphasized that the sale will not disrupt continuity for employees, suppliers, or customers.
Spar Switzerland runs more than 360 stores under the brands Spar, Eurospar, Spar Express, Maxi, and Top CC. In April, it expanded its footprint by acquiring 14 stores from the Schnellmann Group. As of the end of September 2024, the company employed around 1,600 people.
“We don’t have a deal yet, but the ideal scenario would be a Swiss buyer with local business interests. That’s where we’re focusing our negotiations,” said CEO Gary Alberts, who took over the role earlier this year, in an interview with the AWP news agency. He declined to specify a timeline but confirmed that discussions with potential buyers are ongoing.
According to a source familiar with the situation, negotiations are well advanced, though a final deal could still take weeks. The Spar brand is expected to remain in Switzerland, but major Swiss retailers Migros and Coop are reportedly not among the potential buyers.
The South African Spar Group acquired the Swiss business in 2016. However, after a recent strategic review, the group concluded that the Swiss operations were underperforming. Sales and profits have been on the decline, with notable growth occurring only during the COVID-19 pandemic. Photo by Klaus Kettner, Wikimedia commons.