Serbian Retailer Aman Takes Over Višnjica Dućani
Serbian retailer Aman has taken over Belgrade-based grocery chain Višnjica Dućani for an undisclosed amount.
As part of the deal, the existing Višnjica Dućani stores have been rebranded as Aman Višnjica Dućani. Other novelties include the expansion of the product offer with Aman’s private label brands (Bravo, Bravissimo, Alloro and VIP), the promise of lower prices as well as changes in opening hours (the stores will no longer be open 24/24).
Interestingly, no official statements have been released by the two retailers.
The last financial report for Višnjica Dućani shows that the grocery chain had revenue of RSD 995.2 million (€8.29 million) in 2013 and achieved a net profit of RSD 411.638 (€3.429). The majority shareholder, according to the report, was Dragoslav Čihović, who directly and indirectly owned 84.52% of the company.
For its part, Aman is formally owned by Jordanian-born citizen Nedal Halil. Established in 1992 as a discount supermarket chain, the company has since grown significantly, including through the purchase of SOS Market with 30 stores, taking the total to 175 stores in the capital Belgrade and surrounding areas.
The deal is seen as a further step in the consolidation of the local food retail market, ahead of the arrival of global discount chain Lidl, which should launch operations in Serbia by end-2016 or in 2017. In recent years, Croatian food-to-retail consortium Agrokor took over Slovenian retailer Merkator, while Serbian hypermarket Univerexport purchased local supermarket chains Angropromet and Lurdy and also opened several new stores, including its first in Belgrade.
Last but not least, Gomex, a small retail chain until recently present only in northern Serbia, has opened two out the planned ten outlets in Belgrade. Each store has 400-450 m2 of retail space and offers over 5,000 different products
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.