Studenac to Take Over Pemo to Strengthen Position on Croatian Coast

Lauren Simmonds

If you’ve ever spent any time whatsoever in the City of Dubrovnik or in Croatia’s southernmost county of Dubrovnik-Neretva, you’ll more than likely have shopped once or twice in a local Pemo. Pemo is one of the less glamorous symbols of southern Dalmatia and supplies local residents and foreign tourists alike.

While Pemo’s products are most commonly sold out (and quickly) to foreign visitors stocking up their fridges in their rented accommodation, the stores have a long history in southern Dalmatia and employ several hundred employees.

As Novac writes on the 10th of March, 2020, the equally well known Studenac chain is taking over Dubrovnik’s Pemo in order to further strengthen its position along the Croatian coast, according to the retail chain.

Pemo has 35 stores and approximately 370 employees in Dubrovnik-Neretva County in the extreme south of Dalmatia, and after the Competition Agency (AZTN) approves the announced Studenac takeover and fulfills all agreed terms on both sides, Studenac will acquire a 100 percent stake in Pemo d.o.o.

”Over the past year and a half, we’ve developed a very attractive format of trade in Dubrovnik, which primarily meets the needs of local customers, but also meets high standards of tourist demand. Accordingly, our results in this area are above average, which is especially important for this transaction as we’re going to become a significant player in the region and strengthen our leadership position on the Croatian coast,” stated Michal Senczuk, CEO of Studenac.

Lovorko Milosevic, founder of the much loved and long standing Pemo, thanked regular customers of the Dubrovnik retail chain for their loyalty to the store, stating that he believed that those same faithful customers will continue to shop there and show the same support in the future.

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