SPAR Switzerland has reached a deal to purchase 60 AVIA forecourt stores from Frauenfeld-based Store Service.
It is expected to strengthen SPAR Switzerland’s position in the country’s forecourt business.
Store Service Holding AG is a company owned by several AVIA member companies.
Established in 2000, Store Service has around 550 staff members across Switzerland’s German and French-speaking region.
All the existing employee positions will be secured as the company plans to continue to operate all 60 forecourt stores.
SPAR Switzerland CEO Rob Philipson said: “The SPAR Group can look back on a long-standing, excellent cooperation with AVIA. We are very pleased to deepen the partnership through the acquisition of 60 additional forecourt stores.
“Today’s forecourt stores offer customers much more than just fuel and an expanded kiosk range. They have developed into actual convenience shops with a significant range of fresh food and takeaway food.
“In the forecourt segment, we are also constantly adapting to changing purchasing needs of consumers, and we receive positive feedback every day. This encourages us to continue on the path we have chosen.”
Under the terms of the transaction, SPAR Switzerland will buy the entire set of shares on 1 January 2021.
Financial details of the acquisition have not been disclosed.
The acquisition is dependent on the receipt of approval from the Swiss Competition Commission WEKO.
SPAR Switzerland operates SPAR Express convenience stores at 16 AVIA petrol stations in the country.
In July this year, SPAR Switzerland opened its first SPAR Supermarket in Klosters.