Migros parts ways with Tegut - Edeka takes over stores - Migros exits Germany after selling Tegut to Edeka in landmark deal
Swiss retailer Migros is pulling out of Germany after years of struggle in the competitive market. The company has sold its supermarket chain Tegut, which operates over 300 stores and employs around 7,700 people. The move follows ongoing financial challenges and strong competition from rival chains.
Edeka has stepped in to buy a large portion of the business, pending regulatory approval.
Tegut was founded in Fulda in 1947 before being acquired by Migros in 2013. The chain currently runs supermarkets across six German states, with most located in Hesse. However, Migros has already sold off all branches outside Hesse, leaving no Tegut stores in other regions under its control.
Migros pointed to persistent difficulties in the German market and fierce competition as key reasons for its exit. Without Edeka's intervention, the closure of many Tegut stores could have threatened over 4,500 jobs.
Edeka now plans to take over roughly 200 Tegut locations, integrating them into its cooperative network. This deal would safeguard the future of those stores and their staff. However, the fate of the remaining outlets not included in the Edeka purchase remains uncertain, as talks with other potential buyers continue.
The sale to Edeka still requires approval from Germany's Federal Cartel Office. If finalised, the deal will secure a significant number of Tegut stores and jobs. The outcome for the remaining locations will depend on further negotiations with other investors.
