Croatian Antitrust Greenlights Studenac Takeover
The Croatian Competition Agency (AZTN) has approved the takeover of local supermarket chain Studenac by Polish company ARH CEE. Earlier, in June this year, Poland’s Enterprise Investors (EI) signed a contract taking over the Croatian grocery retailer.
The acquisition will primarily have an effect on the retail market for food, beverages and household hygiene products, in the counties of Split-Dalmatia, Dubrovnik-Neretva, Zadarska, Šibenik-Knin and Lika-Senj.
ARH CEE is a company set up by Polish private equity firm Enterprise Investors, with the purpose of acquiring Studenac.
In Croatia, Studenac had a market share ranging from 0-5% to 10-20% in 2017, depending on the county.
Its chief competitors are Konzum, Tommy, Plodine and Lidl, and other regional retailers. At macro level, Studenac has a market share of 0-5%.
Expansion On The Cards For Studenac
According to AZTN, the retail trade market for food, beverages and household hygiene products in Croatia is generally dynamic, with a tendency of growth and represented by a large number of competitors at national, regional and local level.
ARH CEE has added that there is potential to expand the retail network of Studenac due to the expected growth of the market and modern retail chains.
Taking into account established market structures, power distribution and stakeholder shares, the agency believes that the acquisition would not have a negative impact on competition as it would neither create a new brand nor strengthen an existing one.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine