Studenac, Croatia’s largest grocery retailer by store count, has announced plans to acquire Slovenian retailer Kea.

Kea currently operates 31 stores, with an average size of 250 sq m., and had a revenue of almost €50 million last year. The retailer has a strong presence in and around Maribor, Slovenia's second largest city.

The acquisition, which is subject to approval, forms part of Studenac’s wider international expansion plans.

Studenac has become Croatia’s largest retailer by store count since its 2018 through a mixture of acquisitions and organic growth.

Studenac said that the Slovenian market offers attractive macroeconomic and demographic advantages, including membership in the eurozone and the second-highest GDP per capita of the European Union's 11 Central European members. Its research indicates there is “significant” space for organic expansion of the chain's format.

“After rolling out our unique proximity retail concept across Croatia, with significant growth still ahead of us on our home turf, it’s time for Studenac to go international,” said Studenac chief executive Michał Seńczuk. “Our proximity model is tailor-made to deliver what Slovenian shoppers want, and the market is ripe for consolidation.”

He continued: “We are determined to become the leading retail chain in our region, putting down roots in local communities the same way we’ve done here at home.”

Last month, Studenac announced it would acquire 36 stores from Zagreb-based retailer Decentia. The move strengthens its position in the Croation capital, taking its store count to over 130 after the deal is complete.

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