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LJUBLJANA (Slovenia), August 19 (SeeNews) - Germany's largest chain of optical stores Fielmann said it will acquire its Slovenian peer Optika Clarus as part of its international expansion strategy, planning more than 30 new locations in the country in the medium term.
As of September 1, Fielmann will acquire a 70% stake in Optika Clarus, making Slovenia its 14th international market, the German company said in a statement earlier this month.
It did not disclose the price of the acquisition.
Optika Clarus founder Tihomir Krstic will keep the remaining 30% of the Slovenian company.
Krstic was quoted as saying in the same statement that Optika Clarus will open two new stores in the current financial year, planning more than 30 openings in the medium term.
At present, Optika Clarus controls 30% of the Slovenian market, operating 26 shops throughout the Adriatic country, the statement said.
It added that Fielmann will expand to four more markets through organic growth and acquisitions by 2025, but did not elaborate.
The German company said it operates 742 branches across Europe.