What exactly did Orell Füssli Thalia acquire?

It acquired 13 Swiss stationery stores from A. Köhler AG, known to shoppers as Papeterie Köhler. About 70 employees will stay on. The shops will keep the Köhler brand, while the buyer integrates sourcing, logistics, and IT. The closing is retroactive to 1 July 2025, and the price was not disclosed.

Will Papeterie Köhler stores change their name?

No, the Köhler brand remains. Customers will still see Papeterie Köhler on the storefronts. Changes will happen behind the scenes, such as procurement and IT. Over time, we may see shared loyalty programs and tighter assortments, but the local brand identity is set to stay to protect customer trust.

How does this deal fit Swiss retail consolidation?

It adds scale in a higher-margin category while defending high-street sales. Orell Füssli Thalia can cross-sell stationery with books and gifts, use shared logistics, and improve buying terms. This reflects a broader Swiss trend toward fewer, stronger chains with clearer specialisation and better service at neighborhood locations.

What should investors watch in 2026?

Track non-book sales share, like-for-like trends, and gross margin progression. Look for updates on integration milestones and synergy delivery in procurement, logistics, and IT. Seasonal performance during back-to-school will be key. Stable staff retention and customer loyalty growth would signal that the combined model is gaining traction.

Global Market Insights

February 04: Orell Füssli buys Papeterie Köhler’s 13 stores, keeps staff

ByDanny Kontos February 4, 2026February 4, 2026

Papeterie Köhler is joining Orell Füssli Thalia in a move that adds 13 stationery stores across Switzerland and keeps about 70 employees. The A. Köhler AG acquisition is retroactive to 1 July 2025, with shops continuing under the Köhler brand. While the price is undisclosed, the deal strengthens non-book retail for Orell Füssli Thalia. For Swiss investors, this shows steady retail consolidation and a push to grow higher-margin stationery, gifts, and school supplies alongside books.