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ZAGREB (Croatia), December 16 (SeeNews) - Croatia's retailer Spar Hrvatska is taking over 62 Billa retail stores and a logistics centre from peer REWE in line with its expansion strategy, its Austrian parent company Spar said on Friday.
The takeover deal was inked on December 15, but the transfer will be realised after Spar is granted approval from Croatia's market regulator, the company said in a statement.
With this acquisition, Spar will grow its network to over 100 stores in Croatia.
The Billa stores, with selling space between 500 to 1,500 sq meters, are located throughout Croatian. Spar will also take over the 1,900 workers employed in the Billa stores.
Spar Hrvatska is wholly owned by SPAR Osterreichische Warenhandels-AG, i.e. Spar Austria, and employs 3,000 people.
Dec 16, 2016 17:45 CEST