SPAR South Africa has announced plans to sell its Swiss and UK businesses as part of a debt-reduction restructuring of its European operations. In Switzerland, SPAR operates around 363 stores under the SPAR, Eurospar, Maxi, SPAR Express and TopCC banners, employing around 1.600 people. The group, which acquired the Swiss business in 2016, is currently in discussions with potential buyers with local expertise, although a final decision has not yet been made. The Coop and Migros chains are not reportedly involved in the process.
In the 2023/24 financial year, SPAR Switzerland recorded a 6% decline in turnover, down to 754,2 million Swiss francs (around 805 million euros), equivalent to 10% of the group's total turnover. Net profit fell by 17% to 5,6 million francs. Initial figures for the new financial year show a further 9% decline in revenue.
The decline in sales is linked to the increasing use of large supermarkets or cross-border shopping by Swiss consumers, aided by rising prices. The overall slowdown in consumption also worsened the situation: in 2024, retail sales in Switzerland fell by 0,2%, with a slight increase in food (+1,3%) but a 2,6% drop in non-food. SPAR Group confirmed its intention to focus more on African markets, including South Africa, Botswana, Mozambique and Namibia, as well as Ireland and Sri Lanka.
