Studenac will announce two new acquisitions in the next month, revealed Michał Kędzia, a partner at Enterprise Investors, one of the largest private equity funds in Central and Southeastern Europe, which currently manages Studenac and Pan-Pek.
In recent days, several Polish media outlets have reported that Studenac is allegedly going public on the Zagreb and Warsaw stock exchanges, and from unofficial sources, we learn that this is likely to happen. It is worth noting that the retail chain from Omiš has grown from 390 stores in 2018, when it was taken over by Enterprise Investors, to over 1,250 stores and nearly 6,500 employees, so it is expected that the Polish private equity fund has done everything in its power to make Studenac more attractive to potential new owners.
According to information from Lider, Studenac indeed plans to conduct an initial public offering (IPO) by the end of this year, hoping to do so before the U.S. presidential elections on November 5, 2024. As we learn, investment banks have already been engaged, and the consortium that will offer their shares will include JP Morgan, Jefferies, Erste Bank, and Santander Bank, as reported by Polish PAP Biznes, which later deleted the article, but it can still be found on Google search.
—
—
It is worth noting that in 2023, Studenac acquired three retail chains: Strahinjčica, Špar, and La-vor, and opened 116 new stores, and with the upcoming two acquisitions, we learn that they have just purchased the wholesale chain FIBA-PROM. In 2017, Studenac’s revenues were around 200 million euros before the acquisition, and last year they exceeded 659 million euros. With significant investments in opening new stores, acquisitions, and hiring, it is no surprise that revenues are skyrocketing, and Studenac can also boast of becoming the largest retail chain in the Adriatic region. However, going public may be a sign that it has not been easy for Enterprise Investors to sell it, despite good business results and significant investments.
