EDEKA takes majority stake in TEGUT

Edeka agreed in March 2026 to acquire the bulk of tegut from Genossenschaft Migros Zürich, as the Swiss cooperative withdrew from German food retail after thirteen years. The perimeter filed with the German Federal Cartel Office on 24 March covered 202 of tegut’s roughly 340 stores, the Herzberger Bäckerei bakery, the logistics centre at Hünfeld in Hesse, and Smart Retail Solutions, which operates the 41 unstaffed Teo mini-markets. The purchase price was not disclosed. Migros Zürich had bought tegut in 2013 to build a position in the German organic food market, but the chain accumulated losses of around 600 million euros over that period. Cost savings had more than halved its operating losses in 2024, yet revenue kept falling in a deteriorating market, and an internal strategic review concluded that tegut’s positioning and relatively small size made it unsustainable in the long run. A full takeover by a retailer not already present in Germany proved impossible, so Migros negotiated with several buyers in parallel to find a future for as many sites as possible. At the time, tegut generated revenue of €1–10bn and employed around 7,400 people. The Federal Cartel Office cleared the purchase of 178 stores but excluded 24 others, judging that the original perimeter would have significantly restricted competition in 34 regional markets in Hesse, Thuringia, northern Bavaria and Baden-Württemberg, and would have created or strengthened a dominant position for Edeka in nine of them. Edeka also committed not to acquire those 24 stores for four years. Tante Enso had already been cleared to take 36 mostly small tegut stores in June, while talks continued with Rewe. The acquired stores were to be integrated gradually into the Edeka cooperative group, and the tegut brand was not to be carried forward. Edeka chief executive Markus Mosa said the agreement gave the tegut stores and their staff a clear future. Alantra acted as exclusive financial adviser to Genossenschaft Migros Zürich.