January 28 (SeeNews) - Croatia's competition watchdog, AZTN, said it gave the go-ahead to the planned acquisition of part of the assets of footwear retailer Katapult by its German peer Snipes.
The value of the deal was not disclosed.
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The planned deal refers to footwear and sneaker stores Shooster, Approved and Noss, and their online stores, AZTN said in a statement on its website earlier this week.
Snipes is a trade chain for sneakers, streetwear and accessories within the Deichmann group. It operates in ten countries and so far has not been present on the Croatian market.
Snipes' entry in the Croatia market is expected to expand the offer of sports footwear and increase the price pressure on the existing market players, AZTN said.
According to data from the court register of Croatian companies, Katapult is owned by Croatian individuals Mirjana, Franciska and Dominik Ljubic and has a registered capital of 40 million kuna ($5.9 million/5.3 million euro).
Shooster stores are located in all big Croatian towns.
(1 euro=7.531 kuna)