Aduno strengthens position in cards business by acquiring payment solutions specialist Accarda

September 20, 2018

Zurich – Alantra acted as sole financial advisor to Maus Frères SA (“MFSA”) in the sale of its 70% stake in Accarda AG (“Accarda”) to co-shareholder Aduno Group (“Aduno”). After an auction process that was initiated this spring, Aduno emerged as the winning bidder and best owner for Accarda. Accarda is a leading issuer and acquirer of private label customer cards with payment function in Switzerland with almost three million cards in circulation. With this acquisition, Aduno boosts its strategically important cards business and gains a strong foothold in Swiss retail. The parties have agreed to keep the purchase price confidential.

As part of the transaction, Aduno will further develop Accarda’s existing long-term partnership with Swiss department store chain Manor, whose cardholders will enjoy even more benefits in the future. Jean-Bernard Rondeau, Secretary to the Board of Directors of MFSA, is confident “that the Aduno Group is the ideal partner to successfully develop the longstanding business relationships with Manor and Jumbo”, which are both wholly-owned by MFSA. Moreover, the transaction marks the next milestone in Aduno’s focus strategy and Pascal Niquille, Chairman of the Board of Directors of Aduno Holding AG, commented: “The complete acquisition of Accarda is the next major step in implementing our strategy for profitable growth. Accarda is an outstanding strategic fit for the Aduno Group.”

Accarda – is a Switzerland-based specialist in customer cards with payment function, mobile payment, purchase on account, gift cards and bonus programs. With a workforce of more than 200 employees, Accarda has almost three million cards in circulation. Accarda has been operating private label credit cards for well-known Swiss retail clients, such as Manor and Jumbo (myOne card) for decades. In addition, it has also serviced international brands in Switzerland, such as BP, IKEA, Media Markt or Shell.

Aduno – is a leading Swiss provider of cashless payment solutions focused on issuing and software development for card-based payment systems. Prior to the complete acquisition of Accarda, Aduno has held a minority stake of 30% in Accarda since 2007. Aduno is jointly owned by Swiss regional and cantonal banks.

MFSA – is a Swiss family enterprise founded by the Maus and Nordmann families more than a century ago in Geneva, Switzerland. What started as a department store specialized in textiles, notions and knitwear has transformed into a conglomerate of well-known global retail brands and store chains, such as Manor, Jumbo, Lacoste, Gant or Aigle.

By Yago Sánchez September 20, 2018 Corporate News, Press Releases

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