Germany’s biggest retailer, Metro AG, purchased a 51 percent controlling
interest in Primus Online from a unit of its
Swiss parent company and said it plans to expand its e- commerce business.
Financial details were not disclosed.
The stake was purchased from
Switzerland’s BHS AG. Primus, according to Bloomberg News. Primus Online expects
1999 sales of as much as 30 million deutsche marks ($16 million), according
to its Web site.
Metro AG, which owns Kaufhof department stores and the Saturn consumer
electronics chain, is seeking to increase online sales amid growing
competition as Wal-Mart Stores Inc. expands in Europe.
Baar, Switzerland-based BHS, now holds 49 percent in Primus Online Handel und
Dienstleistung GmbH. Primus started as a joint venture with DaimlerChrysler
AG’s Debis unit in February 1998 and employs 172 people.
BHS bought the rest of Primus from Debis in October for an undisclosed price.
BHS is a subsidiary of Swiss holding company Metro Holding AG, which also
owns 60.7 percent of Metro AG.