Fust strikes deal with Service 7000
The Swiss electrical goods store, Fust, is taking a 50 per cent stake in household appliance maker Service 7000. Fust, which is owned by the retail and property group Jelmoli, did not reveal the cost of the deal.
Based in Netstal in canton Glarus, Service 7000 saw a turnover of SFr20 million in the previous financial year.
Jelmoli said in a statement that this latest deal for Fust opens up a new segment of the market for the company, with potential for synergies for both firms in logistics, administration and sales.
Martin Reithebuch will remain as managing director of Service 7000.
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