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Croatian food retailer Studenac takes over wholesaler FIBA-PROM

Jun 19, 2024, 11:00:03 AMArticle by Annie Tsoneva
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June 19 (SeeNews) - Croatian food retailer Studenac acquired Zagreb-based wholesaler FIBA-PROM from businessman Josip Repnjak earlier this month, data from the country’s court registry showed.

Croatian food retailer Studenac takes over wholesaler FIBA-PROM
Croatia's retailer Studenac. Photo by Studenac.

Upon acquiring FIBA-PROM, Studenac merged with it, according to court registry data. The commercial court of Zagreb registered the changes on June 5.

The value of the deal was not disclosed.

FIBA-PROM reported an annual revenue of 18.4 million euro ($19.7 million) in 2023, up from 17.8 million euro in 2022, according to data by business information provider Dun & Bradstreet.

Studenac said on Tuesday it plans to open a new distribution centre next year. The company more than tripled its store network in almost six years, expanding throughout the country via a combination of organic growth and acquisitions, it added.

Polish private equity fund manager Enterprise Investors acquired Omis-based Studenac in August 2018 from its founder Josip Milavic. At the time the chain had more than 380 shops located predominantly on the Croatian coastline and islands, with a hub in Dalmatia. Since then, the Polish company has invested over 260 million euro in the company, Studenac said earlier.

($ = 0.932 euro)

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