Mutares sells Grosbill

Mutares AG (ISIN: DE000A0SMSH2) has sold the French online retailer Grosbill to the founder of the company.

Mutares AG has sold Grosbill to Luc Boccon-Gibod, the founder of the company. Being a French multi-channel retailer for consumer electronics, Grosbill operates an online platform as well as own retail stores. In 2015 the company had been acquired by Mutares from the French Auchan Group. In 2016 Grosbill generated a turnover of EUR 83m with 144 employees.

In the course of further sharpening its profile, Mutares will focus on business models that are based on products with clear unique selling proposition and that contain a significant value addition, e.g. through its own production.