On January 29, 2021, MTH Retail Group Holding GmbH (MTH), OFFICE WORLD Holding AG (OWH), PEG Papeteristen Einkaufsgenossenschaft (PEG) and OFFIX Holding AG announced to combine their Swiss businesses in a new joint venture under the name of «Office World Group AG». The completion of this business combination is subject to certain conditions and the approvals of the competent authorities.
OWH will contribute its subsidiaries OWIBA AG and Tramondi Büro AG and OFFIX Holding AG will contribute its subsidiaries Papedis AG, Ecomedia AG, Oridis AG, OFFICE LEADER AG and DocuServ AG to the joint venture. OWH will become the majority shareholder of the joint venture company. Through this business combination, a new group with approximately 600 employees and a turnover of approximately CHF 400 m will be created.
The parties have agreed to keep the details of the transaction confidential.