Valora confirms the sale of the La Praille building in Geneva. The property is being acquired by the Société Coopérative Migros Genève. Both parties have agreed not to disclose the purchase price. The existing tenancy agreement with Naville Distribution will also be transferred to the new owner. The sale was completed with the relevant entry in the land-registry.
Valora acquired Naville in November 2014. Following the acquisition, and in accordance with its corporate strategy, Naville's retail business comprising some 180 retail outlets was then successfully incorporated into the Valora Group. These additional units further expanded the attractive format network Valora is operating at numerous heavily frequented locations. In June 2016, Naville's logistics and distribution business, Naville Distribution, was sold to the 7Days Group.
The sale of the La Praille building and the recently completed transformation of Naville outlets' till systems and back-office processes have now successfully concluded Valora's acquisition of Naville.