Argos Wityu to acquire a majority stake in Karl Schmidt.

Argos Wityu, an independent European private equity group, agreed to acquire a majority stake in Karl Schmidt, a traditional bakery store operator. Financial terms were not disclosed. “We would like to thank Odewald KMU for the great partnership over the past few years, and we’re delighted to have found such a suitable new owner in Argos Wityu. The team shares our understanding that customers like to spend time in a pleasant atmosphere – not just to buy bread, but to pass the time, have lunch and drink coffee there. Together, we want to expand the offer and continue to improve the customer experience,“ Martin Manski, Karl Schmidt Managing Director.