DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Agrokor To Create Holding In Serbia, Montenegro and Slovenia

By square1
Share this article
Agrokor To Create Holding In Serbia, Montenegro and Slovenia

Chairman of Croatian retailer Agrokor Ivica Todori? has told a Slovenian newspaper that he expects synergies to quickly arise from the merger of the Mercator and Konzum networks, serving as the foundation for a future Adria Retail Mercator holding.

The joint holding is to be present in Serbia, Montenegro and Slovenia, while Zagreb-based Agrokor will continue to operate in Croatia and Bosnia & Herzegovina under the Konzum banner. There would be no need for dual warehousing and logistics systems under such an arrangement and Mercator's management have already agreed to the new organizational structure according to Todori?, who noted that an umbrella company could be established by the end of 2014. He also emphasized that he would not have ventured into the bid to take over Mercator if he had not deemed that it would be profitable.

The chairman also refuted Slovenian suppliers' fears that he would replace Slovenian produce with Croatian. "Our main objective is to give Mercator a new vision and create a very good company that will do business effectively and at a profit", he said.

Todori?'s Agrokor signed a deal on Friday, 14 June, to buy a 53.12% stake in Mercator at a price of €240 million. (18 June)

© 2013 - ESM: European Supermarket Magazine by Ellen Lunney

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.