A subsidiary of CCC, NG2 Suisse, has signed a conditional purchase agreement for 70 percent of shares in the Swiss company Karl Voegele for CHF 10 million, CCC has announced in a press release.
The transaction is conditional upon the fulfillment of a number of typical conditions, including the completion of due diligence and the absence of a significant negative change until its closure. The closing of the transaction is planned until the end of the first half of 2018 or no later than September 30, 2018.
At the end of 2017, Voegele had a network of 219 stores under the Voegele and Bingo brands.
“This transaction is the next stage of implementation of the strategy of the CCC capital group in the area of development of the sales network, enabling CCC to enter new markets,” the statement said.