Furniture retailer Casa sold to AAS Retail

The Swedish-Lebanese businessman Ayad Al Saffar, through his holding company AAS Retail, has acquired a majority stake in the furniture retailer Casa from the investor group Globitas. Casa operates in 8 European countries.

With the new owner, Casa will focus more on developing its e-commerce strategy. According to Vincent Nolf, CEO of Casa, the deal comes at an important time for the retail chain: "With this successful transaction and the entry of a strategic partner, we are in an excellent position to respond to developments in the omnichannel sector," reports the online portal Retailtrends.

Ayad Al Saffar is, among others, the majority shareholder of the retail group Ahlens. Ahlens is Sweden's largest department store chain with around 50 stores in Scandinavia and has been in existence for more than 100 years.

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