A Studenac grocery store in Croatia. Credit: Tupungato/Shutterstock.

Croatian food retailer Studenac has agreed to acquire the Slovenian retail chain Kea, expanding its business into international markets.  

This is the company’s first acquisition outside Croatia after tripling its business in the country under the ownership of Polish private equity company, Enterprise Investors, SeeNews has reported. 

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Kea, headquartered in the town of Šentjur, operates a network of 31 stores across the Celje, Maribor, Prekmurje and Primorje regions. 

The retailer’s stores have an average store size of 250m².  

Kea reported revenues approaching €50m in 2023.  

The acquisition is subject to the approval of the Slovenian Competition Agency. 

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The financial details of the transaction have not been disclosed. 

The deal provides Studenac with new opportunities for growth and development at the regional level. 

The retailer operates 1,300 outlets across Zagreb, Split and other rural regions in Croatia. 

Studenac acquisitions and integrations management board member Andrija Topić said: “We are currently in the final stages of realising two major processes by which we are 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 are starting to expand to the international market. 

“Our next and most important step is the successful integration of these chains, with special emphasis on employees, new and existing, to whom we owe the success and current position of our company. Rich experience in integration processes will facilitate the transition period we expect and enable a successful start of our joint journey.”