Slovenian food retailer Mercator is to acquire Croatian retailer Getro in a bid to increase its market share in the country to around 9%.
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Mercator said on Friday (18 December) that it had signed an agreement for a strategic alliance for Getro, which will include a takeover of the brand name, long-term operating leases of all 16 Getro shopping centres and other commercial properties.
In addition, the retailer, which currently has a 6% share of the Croatian market, will also employ all Getro employees.
Following completion of the alliance, Mercator said it will maintain the “Getro” brand name and continue its development on the Croatian market as well as in some other markets in the region.
“The realisation of the strategic alliance signifies a fulfilment of Mercator’s strategic growth plans and its vision to become the leading retail chain with fast moving consumer goods program in south-eastern Europe,” Mercator said.
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By GlobalDataThe acquisition will go ahead after getting approval from the Croatian competition regulator.
Mercator declined to comment further on the agreement.
In October, Mercator purchased an additional 30% in its Montenegrin unit Mercator-Mex. The purchase brings the company’s stake to 81%,
