The retail chain Studenac has been granted a loan of 80 million euros, with the funds intended for further business growth, including network expansion and capital investments related to improving energy efficiency, confirmed the chain to Hina on Tuesday.
– Studenac continues its long-standing cooperation with the EBRD as one of its main lenders. A loan of 80 million euros has been approved for Studenac, which includes participation from the European Bank for Reconstruction and Development in the amount of 40 million euros – they responded from Studenac.
This is, as they stated, an extension of the existing loan agreement.
– The funds are intended for further business growth, including network expansion and capital investments related to improving the energy efficiency of operations and reducing the carbon footprint in existing and new stores through the implementation of high-efficiency lighting, air conditioning, and refrigeration equipment – emphasized Studenac.
Let us remind you that Studenac has been developing over the past six years by acquiring smaller local retail chains. By realizing eight significant acquisitions, Studenac increased its network from more than 650 stores across Croatia from 2018 to the end of 2023. By the end of the first half of 2024, the company managed around 1300 stores across Croatia and employed over six thousand employees.
Since 2018, Studenac has been owned by a fund managed by Enterprise Investors, one of the largest private equity investment funds in Central and Eastern Europe.
