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SPAR Exits Switzerland

The SPAR Group Ltd has signed an agreement to sell its entire shareholding in SPAR Switzerland to Tannenwald Holding AG, a privately held Swiss investment company for CHF (Swiss franc) 46.5 million, approximately R1,025 million.

This milestone marks the finalisation of SPAR’s European portfolio review, with only the UK process still underway, and represents a decisive step in optimising capital allocation and strengthening the balance sheet.

The transaction reduces the Group’s debt by approximately R2.7 billion, significantly enhancing financial flexibility. In addition, SPAR will be entitled to earn-out payments of up to CHF 30 million, linked to the actual achieved EBITDA of SPAR Switzerland for FY2026 and FY2027. While SPAR has no ongoing control over the Swiss business, recent improvements in performance are encouraging and could support the possibility of upside from the earn-out.

A central focus for the Board during this process was ensuring the Swiss business transitioned into capable local hands. The buyer brings deep market knowledge and alignment with the local management team, giving the business and the SPAR brand the best opportunity to prosper in Switzerland, while securing continuity for retailers, employees, and customers.

“The sale of our Swiss operations is a positive step in focusing resources on our core geographies, where we are positioned for sustainable value creation above the cost of capital. At the same time, the transaction marks a clean exit from Switzerland, while affording the Swiss business optimal prospects for future growth,” said Angelo Swartz, Group CEO.

Swartz added: “This is about sharper capital allocation, reducing leverage, and ensuring we are positioned to build on our strengths. SPAR is firmly on track to deliver on its vision of becoming the retailer of choice in its core geographies.”

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