Croatian Market: Plodine Interested in Purchasing Konzum?

Lauren Simmonds

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Ever since the Agrokor crisis threatened to sink the domestic economy, the Croatian market has been a rocky one, but despite that, Konzum is back on its feet and is even attracting purchasing potential.

As Poslovni Dnevnik writes on the 7th of December, 2018, Milo Ćurković, the owner and CEO of the popular shopping chain, Plodine, said that although he doesn’t believe we that Plodine are the only interested party, he believes that they would be the most ready to take over Konzum.

In terms of revenue and income, Plodine is by far largest company in Primorje-Gorski Kotar County, and when it comes to the top-list of retail chains in Croatia, they’re in third place, with a share of between 10 and 20 percent, just like both Lidl and Kaufland, while the almighty Konzum is still gripping onto first place, according to a report from Novi list.

“The crisis in Agrokor was dangerous for the entire economy, however, everything was fine in the sense that the taxpayers didn’t have to bear the consequences of it, and that’s what is most important,” said Ćurković for Novi list, revealing that Plodine is very much interested in purchasing Konzum.

”We absolutely are. The question is, of course, what the [Agrokor’s] new owners will do. The new owners are bankers, creditors, and my estimate is that for the bank, this isn’t their main business, so, as soon as the company is consolidated, they’ll sell that part of the business, which we’re ready for and want. I think the entire consolidation process will last two to three years, and we’ll be further prepared in that period so that we’re fully prepared for that potential acquisition at the right time. This will be the most interesting acquisition for all of us in this sector.

We’re waiting to see how the situation in Agrokor will turn out. I don’t believe that we’re the only ones interested [in purchasing Konzum], but I believe that we’re the most ready for the takeover of Konzum. This isn’t just about finances. You have to be ready for personnel, organisational, logistical matters, and we’ve fulfilled those conditions,” said Ćurković, adding that anyone who succeeds in buying Konzum will definitely be the main player on the Croatian retail market and that nobody would be able to do better.

“Our goal is to be the main player on the Croatian market,” concluded Ćurković.

Make sure to stay up to date on the Croatian market, doing business in Croatia, and the domestic business and investment climate by following our dedicated business page.


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