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ZAGREB (Croatia), February 27 (SeeNews) - Croatia's anti-trust regulator, AZTN, said on Monday it has approved the acquisition of Konzum's cosmetics and consumer goods retailer, Kozmo, by Muller Stores Zagreb.
The implementation of this concentration will reduce the number of competitors on the relevant market but will put added competitive pressure on German peer DM, AZTN said in a statement.
Following the acquisition, Muller's market share will grow to between 20 and 30%.
DM currently controls some 60 to 70% of the market.
Kozmo was operating as part of Konzum between 2005 and 2009, when it was sold to local company Nexus. Konzum bought back the company in 2015, at a time when it was the third biggest cosmetics and consumer goods retailer in Croatia.
Muller is headquartered in Ulm, in Germany.