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May 16, 2023 14:13 EEST
May 16 (SeeNews) - Croatian retailer Studenac said on Tuesday it has acquired retail chain Strahinjcica in the northern region of Zagorje to boost its position in the central part of the country and expand north.
By this takeover, Studenac has affirmed its position as the largest Croatian grocery chain with 1,136 stores, including the newly acquired ones, the company said in a press release. It did not disclose the value of the acquisition of Strahinjcica which runs 47 retail stores stores and has some 200 employees.
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The transaction is in line with the company’s strategy for growth via acquisitions. Last year, Studenac acquired the Pemo retailer in the Dubrovnik-Neretva country, and Lonia in Kutina, central Croatia.
According to the court registry, Strahinjcica was founded by Miljenko Goluban.
Since its acquisition by Polish private equity fund Enterprise Investors five years ago, Studenac has invested more than 250 million euro ($272 million) in expanding its network, both organically and through acquisitions, the retailer said earlier this month.
($ = 0.918 euro)
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