Swiss book retailer Orell Fuessli in talks to buy Thalia -sources
10/11/2015 16:02
FRANKFURT, Nov 10 (Reuters) - Swiss books retailer Orell
Fuessli OFN.S is in talks to buy German peer Thalia, two
people familiar with the deal said.
Negotiations between the Swiss group and the sellers -
buyout group Advent and Germany's Kreke family - are not yet
exclusive and one or two other rivals from German-speaking
countries remain interested in the asset, they added.
Advent and Orell Fuessli declined to comment, while Thalia
was not immediately available for comment.
Thalia, which has been carved out of books-to-cosmetics
retailer Douglas, is expected to fetch a price tag of roughly
100 million euros ($107 million), the sources said.
Douglas, which now specialises in selling perfume, shampoo
and makeup, was sold to peer investor CVC in summer. Other
former Douglas businesses, such as fashion retailer
AppelrathCuepper and Christ jewellery, stores have also been
divested. urn:newsml:reuters.com:*:nL5N0YN2YC
Thalia, which runs 210 book stores in Germany, has struggled
with the rise of online retailers like Amazon AMZN.O .
Thalia and Orell Fuessli have a joint venture in Switzerland
with an annual turnover of 200 million Swiss francs ($199
million).
($1 = 0.9341 euros)
($1 = 1.0061 Swiss francs)
(Reporting by Arno Schuetze and Oliver Hirt; editing by Susan
Thomas)
((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters
Messaging: arno.schuetze.reuters.com@reuters.net))
Keywords: THALIA M&A/ORELL FUESSLI