A German dealer has slipped into bankruptcy. Surprisingly, he is now bought by a large supermarket chain.
After bankruptcy in November 2022, the organic retailer Basic might now be on the verge of rescue. How out a press release the supermarket tegut wants to take over the company, which is in financial difficulties. The only thing missing is the approval of the Cartel Office.
According to this, tegut will take over 19 locations from Basic as well as all around 500 employees in the stores and the head office. If the cartel office agrees to the deal, the two groups should “gradually grow together”. Both companies have agreed not to disclose the purchase price.
Basic customers do not have to change at the 19 locations, at least for the time being. The branches of the organic retailer are to be retained.
After bankruptcy: Tegut takes over Basic and strengthens its branch network, especially in Bavaria
The insolvent organic retailer Basic is taken over by Tegut.
Image: Photo: Sven Hoppe/dpa
Tegut Managing Director Thomas Gutberlet is quoted as follows in the press release:
“tegut and basic go perfectly together! We will gradually develop the existing stores together with the basic employees and learn from each other in order to enable customers to shop in a feel-good atmosphere.”
The deal allows Tegut to strengthen its branch network, especially in Bavaria and especially in Munich. According to its own statements, the supermarket currently operates 315 branches in Germany.
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