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Conzzeta to sell outdoor specialist Mammut
Swiss group Conzzeta has announced plans to offload its outdoor retailer, Mammut, alongside all other business units, to focus solely on its Bystronic brand of premium sheet metal processing solutions.
Ernst Bärtschi, chairman of the Conzzeta board, said: “The time is now ripe for Conzzeta to redefine its priorities. Thanks to digitalization and new technical solutions, we see excellent opportunities for Bystronic to continue to grow with our customers. The market positions we have established to date can be significantly expanded not just in Europe, but also in the USA and Asia. We will be looking for similar potential among the possible buyers for the businesses to be divested.”
On 9 August, Conzzeta announced it was accelerating the development of its business portfolio, and introduce a decentralised management structure. However, the group has now decided to “concentrate on its own strengths and speed up development of the potential created in recent years”.
According to the group, Mammut is mid-way through a five-year strategic plan designed to strengthen the brand, upgrade its proposition and expand its digital distribution capabilities.
Mammut ended 2018 with nearly 900 employees and sales of more than CHF 250 million (about 223 million euros). Revenue and profits increased significantly in the period between 2016 and 2018, and further improvements are expected for 2019, however Conzzeta said it doesn’t have the necessary expertise to support the brand’s global ambitions.
The group added that it is currently evaluating buyers for the outdoor specialist, with a sale expected by the end of 2020.
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