Spar May Enter Serbia Through Acquisition: Reports
Spar is planning to enter the Serbian market with the purchase of local retail grocery group Mercator S, reports local daily Večernje Novosti.
The plan was supposedly first proposed last year, amidst the challenges at Agrokor, but it was not implemented.
Russia’s Sberbank, the biggest creditor and majority owner of Agrokor, does not have an overwhelming interest in continuing to run the retail business in the Balkans, a source told the newspaper.
According to Serbian broadcaster B92, Spar’s interest in the Serbian market was confirmed by the company’s director for expansion and development, Boštjan Brantušato.
Brantušato also pointed out that Spar may arrive in Serbia only when it stabilises its presence in Croatia.
He further added that the problems at Agrokor have influenced the retailer's plans for the region.
Last year, Spar took over Billa’s operations in Croatia, adding 40 stores to its network.
© 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.