July the 18th, 2024 – Studenac is planning to spread its wings with expansion outside of Croatian borders. It has already put its feet on the ground in neighbouring Slovenia.
As Poslovni Dnevnik writes, Studenac is well known for being the fastest growing retail chain in Croatia over the last five years. The successful retail chain with the largest number of stores nationwide now intends to add the Slovenian retail chain Kea to its network.
In addition to Studenac’s continuous expansion across Croatia, the company is now eyeing further expansion to the international market, further strengthening its position with new opportunities for growth and development at the regional level.
The sales contract between Studenac and the current owner of the Slovenian Kea chain has already been signed, and the approval of the Slovenian Competition Agency is now the last thing being waited on for the conclusion of the transaction.
The Slovenian retail chain Kea, with headquarters in the town of Šentjur, boasts 31 stores in its network in the area of Celje, Maribor, Prekmurje and Primorje. The average size of their stores in that neighbouring country is around 250 square metres. Back in 2023, Kea generated impressive revenues of almost 50 million euros.
“From a successful family business from Omiš, Studenac has grown into the fastest growing retail chain in Croatia. In addition to creating one of the most impressive business stories in Croatia in a unique way, from today we can also say that we’re building the future of retail in the region.
The latest acquisition for our company, which already employs over six thousand people, means an even brighter future. With Studenac’s expansion into the Slovenian market, we’re confirming our commitment to continuous growth and development, contributing to the benefits of local communities in both countries.
The takeover of Slovenia’s Kea chain is not only proof of our strength and utilisation of potential for growth, but also of our determination to become the leading retail chain in the wider region”, stated Dragan Baškarad, member of the Studenac Management Board for operational affairs.
studenac’s expansion inside and outside of croatia
“We’re currently in the final stages of realising two major processes by which we’re expanding our network – the takeover of the Decentia chain, which will strengthen our status in Zagreb, and the takeover of the Kea chain, with which we’ starting the Studenac expansion to the international market.
Our next and most important step will be the successful integration of these chains into Studenac, with special emphasis placed on our new and existing employees, that is, those to whom we owe our success and the current position of our company. Rich experience in these processes will facilitate the transition period we expect and enable a successful start of our joint journey”, concluded Andrija Topić, member of the Studenac Management Board for acquisitions and integrations.
Studenac is otherwise unique in Croatia for its format of neighbourhood stores. In addition to organic growth, Studenac has successfully developed over the last six years precisely by taking over smaller local retail chains. Through the realisation of eight significant acquisitions, Studenac has enriched its network with over 650 stores throughout Croatia from 2018 to the end of 2023. By implementing a unique growth strategy, Studenac has more than tripled the number of stores it has under its belt since 2018 and is today the largest retail chain in terms of sales network size in all of Croatia.
