Acquisitions & Disposals

During the last two years, Migros Group has acquired various companies. Transactions carried out in the 2014 financial year included the following:

On 1 April 2014, Chocolat Frey AG acquired a majority shareholding (51%) in SweetWorks. SweetWorks operates a production plant in Buffalo, New York, with approximately 200 employees, and
also owns a subsidiary, Oak Leaf Confections Co., in Toronto, Canada, which itself employs around 250 staff. SweetWorks will continue to operate as an independent group of companies and all of its
staff will remain in place. Since SweetWorks and Chocolat Frey pursue comparable business models, mutual synergies can be found along the entire value chain. With the acquisition, Chocolat Frey AG
is also strengthening its market position in the United States and Canada.
On 1 January 2014, Magazine zum Globus AG acquired Schild AG with a total of some 700 employees. Schild is the leading upper-mid-range men’s and women’s fashion retailer. Despite being acquired in full, the Schild brand will be retained and the company will be continued as an independent fashion retailer. The acquisition of Schild by Globus will see the two long-established companies
become the market leader for fashion in the mid and upper price ranges in Switzerland. 
On 1 June 2014, the Migros Cooperative Zurich acquired 100% of the shares in Molino AG with its 18 restaurants from Athris Holding AG. Established in 1988, Molino AG now operates under the
name of Ospena Group AG. For the Migros Cooperative Zurich, this takeover represents a key step in the planned growth strategy within the Catering segment.
The effects (from the date of inclusion in the consolidation group) of the extension of the consolidation group for Migros Group and the individual segments are shown below:

Acquisitions 2014

In CHF million Income Expenses Profit
Cooperative Retailing 37.9 36.0 1.9
Industry & Wholesaling 74.4 69.9 4.5
Commerce 172.9 171.3 1.6
Total effect of acquisitions 285.2 277.2 8.0

The acquisition of Rudolf Schär AG, Thal, by Micarna SA on 2 December 2014 is not included in the list above. Since information relating to the financial statements of the acquired Rudolf Schär AG
was not yet available at the time of the Migros Group financial statements being released, the initial recognition of the business combination was not possible. Rudolf Schär AG was established
in 1945 in St. Gallen and is a producer of specialty sausage products. Under a succession arrangement, Micarna SA has acquired the long-established company, together with all 90 employees,
which last year generated sales of around CHF 36 million.

The following companies were acquired during the 2013 financial year:

The Migros Cooperative Zurich acquired the commercial business of the German company tegut...Gutberlet Stiftung & Co. KG, with around 290 stores and 5'000 employees, as at 1 January 2013.
tegut..., whose head office is based in Fulda, will continue to be an independent group. Migros Zurich views its long-term commitment as an opportunity to strengthen the profile of tegut... as a
regional trading company for healthy food and to strengthen its business area. Synergies are also expected in terms of organic product ranges and in the sales of Migros Industry products.

After the Hotelplan Group acquired a 26% share in Germany’s Inter Chalet Ferienhaus GmbH, based in Freiburg im Breisgau, on 1 November 2011, the remaining stake of 74% was purchased
on 1 November 2013. Together with Interhome, the Hotelplan Group’s business as a holiday home agent is therefore even stronger; in future, the companies Inter Chalet and Interhome will be
managed in parallel in order to exploit synergies. With more than 500 employees, they market some 50'000 holiday homes.

Financial Report Migros Group (pdf, 549.49 KB)

Financial Report Federation of Migros Cooperatives (pdf, 110.63 KB)