Ljubljana, 04 August (STA) - Slovenia's leading retailer Mercator on Wednesday signed an agreement to acquire the retail business of Serbian company Coka in a move that the company says will boost its position as the second biggest retailer in Serbia.
Under the strategic partnership agreement between Mercator S and Coka Holding, the subsidiary of the Slovenian grocer will obtain a long-term lease on 22 stores in the Podonavski region in central Serbia or a total of 12,000 sq. meters of sales area, Mercator said.
The agreement, which will become effective after it gets the go-ahead from the Sebian anti-trust authority, also foresees the purchase of stocks and equipment of companies in the Coka group (Coka, Dunav, Inex, Mlava and Nova trgovina).
Mercator did not say how much the deal was worth. It only said that it was a step in the implementation of its growth strategy.
This the third such acquisition for Mercator this year after it bought Croatia's Getro in January and Montenegro's Pantomarket in June.