SWITZERLAND: Carrefour arrives in hypermarket joint venture with Maus Freres
The world's second largest retailer, Carrefour of France, has announced today (4 October) its imminent arrival in Switzerland, courtesy of a joint venture with Maus Freres. Family owned Maus Freres will sell a 40% stake in ten food hypermarkets from its Jumbo supermarket and DIY chain, the second largest in the country with 1999 sales of CHF1.3bn, by the end of 2000. The sum involved remains undisclosed, however, and after five years Carrefour's stake may be increased to 50%.The Jumbo hypermarket chain will be renamed "Carrefour" over the course of next year, but the 35 DIY stores will remain fully under the control of Maus Freres.Based in Geneva, the Swiss company hopes that the purchasing power of French giant Carrefour will facilitate lower prices. The chairman Didier Maus, commented: "We needed to find a partner with a leading European position in buying. These advantages will be of direct benefit to Swiss consumers."
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