Alantra advises Migros on the sale of Globus to Signa and Central Group

Feb 2020

Sell-side advisory

Alantra, the independent global mid-market investment banking, alternative asset management and credit portfolio advisory firm, has advised Migros-Genossenschafts-Bund (“Migros”), Switzerland’s largest retail company, on the sale of Globus, a Swiss luxury department store chain along with eight associated real estate properties, to Signa, Austria’s largest privately-owned real estate company, and Central Group, Thailand’s largest retailer. Working along with Alantra, CBRE acted as real estate expert on this landmark transaction, one of the largest real estate transactions of the past few years in Switzerland.

Globus’s roots stretch back to the 19th century. Its precursor opened its doors in 1892 to become Switzerland’s first department store. The foundations of this transaction are the existing values and core competencies of Globus as a Swiss traditional brand. These include the great popularity among the Swiss customers, the highly motivated and experienced employees, the excellent customer card program and its unique locations. The transaction entails eight high street real estate assets in Zurich, Basel, Bern and St. Gallen.

Thailand’s Central Group and Austrian Signa will each hold a 50% stake in Globus, expanding the two companies existing 50-50 joint venture which owns the German department-store chain KaDeWe and is working on projects in Vienna and Dusseldorf. Central Group also owns Italy’s Rinascente and Denmark’s Illum stores.

Fabrice Zumbrunnen, CEO of Migros said Central Group and Signa offered a strong commitment and optimal conditions for a successful future for Globus. Alantra’s Swiss team is pleased to have helped in finding continuity and growth solutions for such a historical Swiss company as Globus.

The signing of the transaction has taken place. The final acquisition is subject to the approval from the European competition authorities and should be completed by mid-2020 (closing).