Mercator, Slovenia’s largest food retailer has announced it will acquire Croatia’s retailer Getro. The company, which currently controls 6 percent of the Croatian market, said the takeover contract was signed on Friday in Zagreb.
The strategic alliance includes a takeover of “Getro” brand name, long-term operating lease of all 16 Getro shopping centres and other commercial properties with a total area of over 110,000 square meters. In addition, the company Mercator-H will become the employer of all Getro employees.
Getro, with its 16 shopping centres and an established brand is among the largest retailers with fast moving consumer goods on the Croatian market. After completion of the strategic alliance, Mercator plans to maintain the "Getro" brand name and to continue its development on the Croatian market as well as in some other markets in the region.
With this alliance, Mercator will increase its market share on the Croatian fast moving consumer goods market to 8-9 percent and will strengthen the position of the second-largest trader in the market. The realization 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 Southeastern Europe.
The agreement for strategic alliance will be able to enter into force only after approval by the Croatian Competition Protection Office.