Migros sells Mibelle to Spanish Persán Group
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Migros sells Mibelle to Spanish Persán Group
Migros is selling its cosmetics subsidiary Mibelle to the Spanish family business Persán, which is taking over all of Mibelle's employees and locations in Switzerland, France, Britain, the Netherlands, the United States and Australia.
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A corresponding takeover agreement has been signed, Migros announced. The parties have agreed not to disclose the terms of the sale or the price.
Migros has thus achieved its goal of finding a buyer for Mibelle by the end of March. In Persán, the company has found a partner with whom it can continue its international growth trajectory of recent years, it said.
Brands like “Handy” to remain
The Andalusian company Persán is reportedly the European market leader in the personal and household care sector. With Mibelle’s 1,400 employees, Persán will grow into a company with more than 3,000 employees and a turnover of over €1bn.
The small South Korean Mibelle subsidiary Gowoonsesang is not part of the deal. This will go to the French group L’Oréal. Migros had already announced this in December.
The well-known Migros own brands such as Handy, I am and Zoé, which are produced by Mibelle, will reportedly continue to be available at Migros. Long-term supply contracts have been concluded between Migros and Mibelle.
The sale of Mibelle largely finalises the company sales and closures announced by Migros a year ago. Migros announced the biggest restructuring programme in its 100-year history in February 2024.
It disposed of several business units, including SportX, Melectronics, Bikeworld, Obi, Micasa and Hotelplan.
In future, it will focus on the food, non-food, financial services and healthcare sectors.
Translated from German by DeepL/mga
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