We are proud to be part of the Migros Group. The Federation of Migros Cooperatives (FMC) has acquired our start-up on 31 March 2022.
What does that mean for you?
This will not lead to any changes at all for our customers. The bestsmile treatment with Aligners & Veneers will remain the same – at the same price, under the same conditions and in the same hands.
bestsmile always strives for the highest quality and the best service for all customers. Our high-quality standard also convinced Migros, which fills us with pride and motivates us to continue to give our best – to make sure you get your most beautiful smile.
bestsmile has been growing with great success since it was founded in 2018. With 36 locations throughout Switzerland and a product range consisting of Aligners & Veneers, bestsmile has become the Swiss market leader for teeth straightening in a very short time.
Sparrow Ventures, the Growth Equity Investor of the Migros Group, already invested in bestsmile in 2019. Lorenz Lüchinger, CEO of Sparrow Ventures, joined the Board of Directors of bestsmile in 2019 and says he has always believed in the team and the potential of bestsmile. “The positive business development and the rapidly growing market have now prompted Migros to acquire the company.” Sparrow Ventures will now manage bestsmile on behalf of the FMC. With this acquisition, the three bestsmile founders, namely Ertan Wittwer, Marcel Kubli and Philip Magoulas (former CEO, COO and CFO respectively) are to withdraw from the operating business.
A new management team from bestsmile’s own ranks
Except for the changes in the management team, nothing else will change under the Migros ownership. The fact that the new management team could all be recruited internally makes bestsmile particularly proud. Michael Wendt, formerly Chief Revenue Officer, will step into the role of CEO. Christoph Kohler, previously Head of Finance and Marketing, will take over the position of CFO. And Dominic Schär is leaving his role of Head of Retail to become the new CRO.
“I’m proud to see bestsmile becoming part of the Migros Group, a Swiss institution. So far, we’ve already helped put a smile on the faces of more than 27,000 people in Switzerland. With this backing, bestsmile is bound to become a relevant player for an even larger part of the population. I’m particularly proud that the entire new management team was recruited internally and will continue to uphold our culture and our vision in the future”, commented Ertan Wittwer.
The three founders will continue to work with the company in an advisory capacity. Ertan Wittwer remains a member of the Board of Directors, joined by Lorenz Lüchinger (CEO of Sparrow Ventures), Michel Gruber (Head of Retail at Migros and Chairman of the Board of Sparrow Ventures) and Marcel Napierala (CEO of MedBase). bestsmile aims to grow even further with Migros as an institution at its side.
“This is a unique opportunity for our company. Our values match those of our new owner perfectly: we will be making our locally manufactured products accessible to and affordable for everyone in Switzerland. In the future, we will focus on solving even more complex cases with our combination of Aligners and Veneers.” comments Michael Wendt.
The whole bestsmile team would like to express their heartfelt thanks for the successful past 3.5 years, for the great achievements, the remarkable team spirit, the wonderful work culture and everything we were able to take away and learn along the way. We wish Ertan, Marcel and Philip continued success and all the best for the future!
We are looking to the future with enthusiasm and are very excited to drive our mission forward: to give everyone a flawless smile at a fair price.