Wednesday, 20 April 2022

Studenac Expands to Slunj, Takes Over Kordun Retail Chain

April the 20th, 2022 - Studenac, the very well known shopping chain most commonly seen up and down the coast of Dalmatia, has been spreading its wings over the last few months and has now entered another new Croatian county, this time taking over the Slunj-based Kordun retail chain.

As Poslovni Dnevnik writes, Studenac is one of the leading retail chains in the Republic of Croatia, it's also the chain with the largest chain of stores. It has now taken over the Slunj-based Kordun retail chain which operates in 9 retail stores across Karlovac County and employs 52 employees.

This new takeover of the Kordun retail chain by Studenac is a continuation of the continuous growth that the company has achieved over more recent years, and after the acquisition of the Dubrovnik chain Pemo d.o.o., Studenac has strengthened its position as the chain with the largest number of stores. In addition to that, Studenac is now present for the first time in Karlovac County in Slunj, Rakovica, Cetingrad and Dreznik Grad.

"Joining the Kordun retail chain to the Studenac network is of strategic importance for the company because, among other things, it brings us into a new geographical area. It also confirms our thesis that small formats of stores like ours have great potential and several advantages, and we successfully use them to fit into different local communities and provide customers with a pleasant and complete shopping experience. This is exactly what we're going to provide to our new customers, with the gradual improvement of all business aspects,'' said Michal Senczuk, President of the Management Board of Studenac.

The takeover of the Kordun retail chain implies their reorganisation into Studenac stores, the enrichment of the assortment on offer and the introduction of many other benefits for local customers. Speaking of benefits, in addition to regular weekly promotions, customers in Studenac can additionally expect welcome discounts, special promotions, as well as activities at points of sale such as a fun wheel of fortune in the first weeks of the store's opening.

On top of all of that, customers can also download ''Moj Studenac/My Studeanc'', a brand new loyalty programme in the form of a modern mobile application (app) that brings them value and extra savings for their loyalty. The free app, available for both Android and iOS devices, provides customers with a unique experience of everyday shopping in Studenac, with special benefits that will be designed according to their individual shopping habits.

Studenac, with almost 750 stores and more than 4,000 employees across the country, is continuing its business growth strategy and introducing brand new and improved existing activities in order to better position Studenac as the best choice in every neighbourhood in which it is present and as one that meets the needs of its customers.

For more, check out our business section.

Monday, 28 March 2022

Studenac Has More Than Double the Amount of Konzum Stores Across Croatia

March the 28th, 2022 - After completing the takeover of the Kutina-based company Lonia, the retail giant Studenac will have as many as 1,050 stores across the country and will be by far the largest chain in all of the Republic of Croatia.

As Poslovni Dnevnik writes, the Omis-based company Studenac is currently owned by the Polish investment giant Enterprise investors, and in the meantime it purchased the bakery chain Pan Pek and Zadar's Sonik market, Porec's Istrian supermarkets, Biograd's Bura chain, and recently Dubrovnik's very well known Pemo brand.

By that point, this large company had reached the impressive number of around 750 stores located up and down the country. The Kutina-based company, through the newly established company Lonia trgovina d.o.o., operates a network of 300 grocery stores and eight wholesale centres in Croatia. Two years ago, Lonia took over the Djurdjevac-based company Sloga podravska trgovina, which boasts about 70 stores.

Lonia operates in the City of Zagreb, Zagreb County, Sisak-Moslavina County, Bjelovar-Bilogora County, Pozega-Slavonia County, Brod-Posavina County, Karlovac and Karlovac County, and the Varazdin and Koprivnica-Krizevci counties, and in these regions, Studenac will take over their market positions, as reported by Danica.

After taking over Lonia, Omis's very well known Studenac will therefore have around 1,050 stores under its belt in Croatia, becoming the retailer with by far the largest number of outlets nationwide. They are in primarily ''smaller formats'', such as small neighbourhood shops and supermarkets. Unlike, for example, the second largest sales giant in Croatia, Konzum, which has 608 stores, but they're mostly larger supermarkets and hypermarkets.

The third in terms of number of shopping outlets is the well known Dalmatian Tommy from Split with a total of 226 stores, Spar ranks fourth with 118, and Plodine is fifth with 107. The wildly popular Lidl has 105, and its sister company Kaufland (part of the same Schwarz group) boasts 45 Croatian stores.

For more, make sure to check out our dedicated business section.

Tuesday, 8 February 2022

Studenac Acquires Pemo, Becoming Largest Croatian Retail Chain

February 8, 2022 – Studenac d.o.o. agreed to buy 100% of Pemo d.o.o., the most respected retail brand in the Dubrovnik region, becoming the largest Croatian retail chain by number of stores and solidifying its position as a leader in the Adriatic region.

The acquisition, whose value was not disclosed, will add nearly 40 stores to Studenac’s network, bringing the total to almost 750. Pemo’s 300 employees in Dubrovnik-Neretva County will join more than 3,700 already working at Omiš-based Studenac. The deal has already received all necessary regulatory approvals.

The takeover builds on Studenac’s successful history of acquisitions of competitors, including Istarski Supermarketi and Sonik in 2019 and last year’s takeover of rival Bure Trgovina, as well as organic expansion to the Croatian capital, Zagreb. From its home base on the Dalmatian coast, where it serves local residents and tourists, Studenac is continuing to roll out its innovative format across the country, bringing best practices from global convenience leaders to the local market.

“Becoming the largest retail chain in Croatia is testimony to the hard work of the Studenac team and proof that we’ve found a winning formula for 21st-century convenience retail,” said Studenac CEO Michal Senczuk. “We’re pressing forward down the path of growth, and this acquisition is yet more evidence of our determination to succeed.”

Founded in 1991, Studenac gradually expanded its wholesale and retail network over the next three decades, reaching 380 stores in 2018. Growth accelerated after the takeover of the company that year by private equity fund Enterprise Investors, which spurred investment in acquisitions, a revamp of the stores’ format and the launch of new products and services.

“We have invested over €250 million in Croatia’s grocery retail sector and this is not our last word,” said Enterprise Investors partner Michał Kędzia, responsible for the fund’s investment into Studenac. “We are delighted with the results attained by Michal 

Senczuk and his team and we are convinced the company will keep growing in the years to come.”

“We look forward to welcoming Pemo’s outstanding team into the Studenac family and offering them new opportunities for career development,” Senczuk added. “Pemo has a tradition almost as long as our own, and we aim to preserve and nurture the values that the company presents to its customers, while adding new products and services to deliver an even more pleasant shopping experience.”

For more, check out our business section.

Tuesday, 31 August 2021

Two Retail Chains Top Ranking of Businesses With Highest Revenue in Dalmatia

ZAGREB, 31 Aug, 2021 - An analysis of the Croatian Finance Agency (Fina) shows that in 2020, the businesses registered in Split-Dalmatia County had a consolidated net profit of HRK 571.3 million, down by 27% compared to 2019.

In terms of the total revenue in 2020, the Split-based Tommy retail chain topped the ranking with HRK 3.2 billion, and the Omiš-based Stuidenac ranked second, HRK 1.9 billion, and they were followed by the Vrgorac-based Pivac meat processing company, HRK 1.6 billion.

Last year, there were 15,308 businesses with their headquarters in Split-Dalmatia County.

Highest profit in 2020 made by sports betting company

Of them, the company with the highest profit was the Dugopolje-headquartered Hattrick-PSK bookmaker, HRK 242.1 million.

It was followed by the two shipbuilding companies, Brodotrogir (HRK 152.9 million) and Brodosplit (HRK 146.2 million)

Considering the number of employees on the payrolls of all those 15,308 businesses, the employed labour force was downsized by 2.8% from 2019 to reach 79,085 in 2020.

Tommy was the biggest employer, with nearly 3,000 people on its payroll. Studenac employed 2,456  workers in 2020.

According to Fina's data, last year, the total revenues earned by the businesses in this southern county came to HRK 48.5 billion, down by 8.4%, their expenditures were cut by 7.8% to HRK 47.5 billion.

(€1 = HRK 7.5)

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Friday, 21 May 2021

Well Known Croatian Coastal Store Studenac Arrives in Zagreb

May the 21st, 2021 - If you've ever spent any time on the Croatian coast, you'll have noticed a shop called Studenac. The popular coastal store Studenac has now taken to the continental part of the country and opened its doors for the first time right here in the Croatian capital of Zagreb.

As Poslovni Dnevnik/Marta Duic writes, the Croatian coastal store Studenac, one of the leading retail chains on the Adriatic, is continuing to grow and expand its business, for the first time opening the doors of one of its markets in Zagreb. With the opening of this first store at the address Kneza Mislava 1, the city format of the store was presented and then adapted to the needs of customers in such an urban environment. The opening of the next stores owned by this chain in Zagreb is expected by the end of the year.

The arrival of the popular store Studenac in the Croatian capital is an important business step forward in the market positioning and strengthening of this company, not only as the leading chain along the Adriatic but also as one of the leading retail chains in the country as a whole.

"The opening of our stores in Zagreb is a continuation of our expansion strategy, whether it's organic growth or acquisitions. We're especially glad that we're achieving these set goals thanks to numerous improvements and innovation in business, despite the economic challenges. We're bringing a touch of the Adriatic to Zagreb and a new level of service quality that keeps pace with world FMCG trends. I believe that customers will quickly recognise the value we represent, which is that we're a neighbourhood shop, we're small but we boast some rich offers, and that we provide everything you need in one place - one step closer to customers,'' said Michal Senczuk, the CEO of Studenac.

The emphasis is being placed on the store's extensive TO GO offer, Senczuk added, noting that will surely go hand in hand with the often hectic lifestyle of the capital's residents.

Studenac stores will more than likely bring many offers and benefits to the people of Zagreb, and back in April, Studenac presented an assortment of carefully selected products of private brands, which, with the label of a green basket and at attractive prices, is available only on the shelves of this retail chain. In addition, in all Zagreb stores, Studenac's customers will have access to an enriched TO GO offer, which offers a selection of selected hot drinks and baked products, as well as a selected range of dishes with the possibility to prepare them in store.

For more, follow our lifestyle section.

Tuesday, 10 March 2020

Studenac to Take Over Pemo to Strengthen Position on Croatian Coast

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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