Swiss online electronics retailers STEG and PCP.CH join forces
PCP.CH has acquired STEG Electronics, which is three times as big. As a result of the merger, PCP.COM Gruppe is now, with 160 million euros worth of revenue, the largest independent retailer on the Swiss computers and electronics market. While the two brands will remain, the merger of the two companies will result in a significant increase in efficiency and strengthen its market position, as PCP.CH wrote in a statement.
STEG is an internet pioneer with 17 branches throughout Switzerland and twenty years of retail experience, while PCP.ch is Switzerland’s oldest online retailer with an online presence since sixteen years. PCP.COM Grouppe now offers more than 250,000 products in Switzerland, Germany, Australia and in several webshops.
Merger is response to market developments
According to the press release, “the far-reaching, forward-looking merger is also a response to market developments that have occurred in the computers and electronics market in recent years. In this revenue-driven industry with low margins, a critical size, highly optimized and automated processes, services and the possibility of online retail all play a central role.”
STEG Electronics AG will be a 100% subsidiary of PCP.CH, which under the name PCP.com Grouppe already operates three subsidiaries. Both brands will remain independent from one another. For the employees of both companies the merger will have no consequences. All branches of STEG also will continue as nothing has happened. The six franchise locations will remain independent. STEG is to benefit from the modern IT systems PCP.Com Grouppe has, so it can operate it stores more efficiently and purchase faster and cheaper. The in-house developed ERP system allows for massive savings, the company states.