Migros takes stake in Depot

Migros, a Swiss company, has acquired 49 per cent of Gries Deco Holding (GDH), a German company selling interior accessories, home décor articles and occasional furniture under the “Depot” name. Depot operates 148 branches in Germany and Austria. According to Migros, the business is to be expanded aggressively in Europe, with the annual addition of about 30 own branches and diverse shop-in-shops in department and furniture stores, or in concept stores as well. The company’s sales have grown 30 per cent on average over the past three years.