Merger mania continues in retail.

Fonction NEWS

Coop--the country's second-largest supermarket--is set to purchase electronics giant Fust from Jelmoli, the latest takeover to mark an increasing concentration of ownership in Swiss retail.

Nearly 60 per cent of Swiss households are regular customers of Fust, which is Switzerland's largest seller of appliances and had a net turnover of SFr 825 million last year. As part of the deal, Coop will also buy Jelmoli's 80 per cent stake in netto24, a leading online source of nonfood products in Switzerland. A spokesman said Fust will keep its name and no jobs will be lost.

The SFr 990 million takeover was approved by the Federal Competition Commission (Comco) in November. Two conditions aim to protect the household appliance sector. Coop companies are barred from exclusivity agreements with suppliers of small domestic appliances and name-brand electrical goods, and Fust...

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