Two partners pull out of Zeus

Zeus (Zentrale für Einkauf und Service), a German cooperative organisation, is passing into the ownership of Hagebau, a building materials and DIY retail cooperative, on 1 January 2013 at the latest. The other two current partners, EK Servicegroup and EDE, have terminated their cooperation agreement with Hagebau effective 31 December 2012. The core retail business, for example the servicing of the Hagebaumarkt stores, is to be bundled and expanded in Soltau, where Hagebau has its headquarters. Heribert Gondert (pictured), chief executive and management spokesman, is quoted as saying that Hagebau is “open to further partnerships and open to further trading partners as well”. All supplier contracts will be continued and adhered to.