Coop Switzerland has announced that it will merge its Bau + Hobby brand with DIY chain Jumbo and operate the division under the Jumbo banner as a specialist format of the Coop Group.
Recently, the Swiss competition commission approved Coop's acquisition of the Swiss DIY chain without reservation.
With its network of 40 sales outlets, Jumbo complements Coop's 84 Bau + Hobby stores, the retail group added.
The takeover of Jumbo will see Coop consolidate its leadership in the DIY sector in the country, as the former is a leader in terms of sustainability, competence and price.
Commenting on the acquisition, CEO of the Coop Group Cooperative, Philipp Wyss, stated, "I warmly welcome Jumbo and the employees to the Coop family. We believe in Jumbo and in the great growth potential of the Swiss construction market. I am pleased to offer our customers the best of both worlds."
Coop Switzerland added that it would continue to operate the Bau + Hobby outlets and all Jumbo locations in full and retain the sales staff.
The merger will take around a year to complete and Coop will offer alternative roles, wherever possible, for administrative positions that will be lost in the long term.
Strategy
In the future, Jumbo will rely on a combination of its strong brands and own brands, including Ayce, Jardin Royal and Mood.
These will be supplemented by the popular construction and hobby range in the garden, barbecue, leisure and handicraft sectors, as well as by the sustainable own brands Oecoplan, Naturaplan and Pro Specie Rara.
It will offer customers 'the best of both worlds' through its network of sales outlets, extensive range of products, and high level of expertise. The company will also offer a comprehensive online range catering to the Swiss hardware store.
Customers can also benefit from the Jumbo and Coop Supercard, one of the largest loyalty programmes in Switzerland, as part of the new format post the acquisition.
In June, Coop Switzerland published its first digital progress report with detailed information on the status of its ambitious multi-year sustainability goals.
