Gleiss Lutz has advised Genossenschaft Migros Zürich (GMZ), one of ten regional cooperatives within the Swiss Migros Group based in Zurich, on the sale of major parts of the Tegut Group to food retailer EDEKA.
Tegut is a German retail company and full-range supplier with approximately 300 grocery stores and around 7,800 employees in Hesse, Thuringia, Bavaria, Baden-Württemberg, Rhineland-Palatinate, and Lower Saxony. It has been part of GMZ since 2013. The sale includes a significant portion of the store portfolio with sales staff, the logistics center in Michelsrombach, the Herzberger bakery, and Smart Retail Solutions, which operates the Teo stores in Germany.
GMZ, which operates supermarkets, restaurants, and educational facilities in the Zurich area with around 20,000 employees, has decided to strategically withdraw from Germany as part of the restructuring of the Tegut Group.
The Hamburg-based EDEKA cooperative generated sales of EUR 75.3 billion in 2024 with around 10,860 stores and approximately 400,000 employees.
The transaction is subject to regulatory approval by the German Federal Cartel Office. At the same time, GMZ is in advanced negotiations with other well-known German market participants to find a solution for the future of all Tegut locations. Gleiss Lutz is also advising GMZ in this process.
The following Gleiss Lutz team, led by Dr. Christian Cascante (partner, Stuttgart/Frankfurt), Dr. Antonius Mann (partner, Frankfurt), Dr. Patrick Mossler (partner, Hamburg), Dr. Moritz Alexander Riesener (partner, all M&A, Munich), Dr. Ulrich Denzel (partner, Stuttgart/Brussels) and Dr. Andreas Schüssel (partner, both Competition/Antitrust, Düsseldorf) is advising the Migros Zurich cooperative:
Franz-Ferdinand Guggenmos (Munich), Dr. Bosede Felicitas Staudenmayer, Dr. Julius-Vincent Ritz, Dr. Nils Kraus, Laurenz Scheuring (all Stuttgart), Julia Hellmuth (Frankfurt), Jonas Tafel (Hamburg), Dr. Philipp Jaspers, Dr. Philipp Pordzik (both Frankfurt), Dr. Melina Grauschopf, Ansgar Johannes Grosch (all M&A, both Munich), Steffen Carl (partner), Friederike Habersack, Dr. Veronika Weigl (all Corporate, all Munich), Dr. Stefan Mayer (partner), Dr. Ocka Stumm (partner), Dr. Dominik Monz (counsel), Kilian Mossel (all Tax, all Frankfurt), Dr. Alexander Molle (partner), Viktoria Charlotte Neubelt, Jan Felix Hinrichs (counsel, all IP/Tech), Dr. Rut Steinhauser (partner), Leon Valentin Werlitz (both Employment, all Berlin), Dr. Tim Weber (partner), Konrad H. J. Discher (counsel), Sophie Hochdörffer (all Real Estate, all Frankfurt), José Ignacio Benitez Fernández (Stuttgart), Amelie Peiker (Munich), Vivien Etzkorn (all Competition/Antitrust, Düsseldorf).
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