Spar, Switzerland’s oldest retailer, has been sold to a group of investors. There are many changes within the Swiss management team.
Spar Group Switzerland has been sold by its South African owner to a group of Swiss investors.
This was announced by both the retailer and the former owners on Tuesday.
Debts are transferred
The purchase price was stated as 46.5 million Swiss francs. In addition, there is a profit share of up to 30 million Swiss francs.
All debts are transferred, as well as a provision of 11.5 million Swiss francs for a dispute with the Swiss Competition Commission Weko.
The change of ownership to Tannenwald Holding took place today, it was further stated.
CEO steps down
The new owners will be represented by experienced board members, explained the country’s oldest retailer, which dates back to the founding of a St. Gallen trading house back in 1761.
The board of directors will now consist of Peter Weber (chairman and CEO), Reto Francioni, Daniel Häring, and Stefan Hromatka.
Francioni is known as Chairman of the Board of Directors of Swiss International Air Lines and Chairman of the Supervisory Board of UBS Europe, as well as former President of the Swiss stock exchange SIX and manager of Credit Suisse.
As part of the change of ownership, Gary Alberts is stepping down as CEO of Spar Group Switzerland.
Reto Suhner, long-time CFO of Spar Switzerland, will lead the company as CEO on an interim basis.
Inaccurate information
The aim of the takeover is to increase Spar’s competitiveness and successfully position Spar Group Switzerland alongside the market leaders Migros, Coop & Co. in the long term.
Furthermore, the transition should be stable for consumers, employees, and suppliers, according to the press release.
What this means can be seen from the clumsy media relations alone.
For example, the press release does not reveal who is new to the board of directors. The media office was also unwilling to answer this question immediately by telephone.
Changes in the commercial register
Tannenwald Holding was also only entered in the commercial register at the end of August – albeit with errors.
The company is managed by Peter Toni Weber from Lucerne, resident in Liestal BL, as chairman of the board of directors. Daniel Häring from Oberwil BL, who lives in Sissach, is now also a member of the board of directors.
The previous owners incurred significant ‘value adjustments’ as a result of the sale decision. In 2016, they had purchased 60 percent of Spar Switzerland for around 44.5 million Swiss francs.
09.09.2025/kut./ena.
