Transactions carried out in the 2020 financial year included the following:
The Migros Cooperative Geneva increased its shareholding in Société Immobilière du Marché de gros de l'Alimentation (SIMGA) from 42.8% to 100% (previously entered in the balance sheet as an equity investment) on 20 December 2019. Once all the documentation had been submitted, the transaction was able to be completed in the past financial year (full consolidation with effect from 1 January 2020).
Micarna SA also sold its shares in Oberschwäbische Geflügel GmbH on 11 May 2020 and Migrol AG disposed of its holding in Swisstherm AG on 29 December 2020.
Migros Eastern Switzerland had already announced its plans to focus increasingly in future on the core business with supermarkets, specialist markets, Migros Gastronomy and Club Schools and to search for a new owner for the fast food chain Chickeria back in the summer of 2019. The BKTL Group, a Swiss company and franchisee of Burger King, took over 12 out of a total of 15 Chickeria branches on 1 April 2020, retaining all of the staff. The new owner will continue to operate the restaurants under the Chickeria name for the time being, before gradually converting them to branches of Burger King and Popeyes®. A solution for the future of the branches in Winterthur Obertor and Zurich Langstrasse which were not sold has now been found, while the restaurant in St. Gallen train station was closed.
Newly established companies
On 21 January 2020, Migros Fachmarkt AG was established with headquarters in Zurich, with the aim of optimising product and value flow along the value chain for the various specialist markets, such as melectronics, SportXX, Do it & Garden and Micasa, and to focus rigorously on customer needs (including multi-channel distribution or no-line commerce). The new operator model entered into force on 1 January 2021.
On 25 June 2020, Medbase AG founded Radiologie Win AG, based in Winterthur. The purpose of the company is to operate radiology institutes and units and to provide radiology services in the area of x-ray imaging in the Winterthur region.
On 1 July 2020, the Federation of Migros Cooperatives established MiSENSO AG, based in Zurich. Specialising in optics and hearing acoustics, MiSENSO offers a wide range of contact lenses, designer frames, sunglasses and modern hearing aids at fair prices, and is located directly in selected Migros stores. The online shop misenso.ch will be expanded gradually over the coming months, provided this business model is successful.
For further details please see Note 39 and chapter C in the report on the financial situation as part of the complete financial reporting of the Migros Group.