The companies Getro, owned by Vjekoslav Gucić, and Mercator-H signed a contract today for strategic cooperation, based on which Mercator-H will take over the retail operations of Getro in the Republic of Croatia.
The strategic cooperation includes the acquisition of the brand »Getro«, a long-term business lease of all 16 Getro shopping centers and other business facilities with a total area of more than 110,000 m2, and in addition, Mercator-H will also take over all employees.
Getro with its 16 shopping centers and established brand is among the largest Croatian retailers of everyday consumer products in the Croatian market. Mercator intends to retain the brand ‘Getro’ after the implementation of the strategic cooperation and continue its development both in the Croatian market and in some other markets in the region.
With this cooperation, Mercator will increase its market share in the Croatian market, in the retail sector of everyday consumer products to between 8 and 9%, thereby establishing its position as the second largest retailer in the market. The implementation of the strategic cooperation marks the realization of Mercator’s growth strategy and the achievement of its vision of becoming the largest food product retailer in the entire Southeast European region. The agreement on strategic cooperation will come into effect after obtaining consent from the Competition Agency – AZTN. (M.N.)
