Metro Group-owned consumer electronics superstore operator Media-Saturn is understood to have pulled out of a deal to acquire the Privileg household goods private label.

The label - the German market leader in washing machines, tumble dryers and kitchen stoves - was bought by the Otto mail order group from Arcandor in November, after Arcandor went into insolvency.

According to sources close to Otto and quoted by German newspaper Handelsblatt, Media-Saturn “is definitely out of the deal”, reportedly due to being unable to agree on a purchase price.

Rumours of a potential acquisition of the Privileg brand - by Media- Saturn had attracted substantial interest in late 2008 as it would have marked the retailer’s first big move into private label.

Topics