TLDR:
- CVC Capital Partners is looking to acquire Croatian supermarket chain Studenac.
- Studenac is currently ranked sixth in the Croatian retail market.
Luxembourg-based venture capital firm CVC Capital Partners is reportedly interested in acquiring Croatian supermarket chain Studenac, according to sources familiar with the matter. Studenac is currently owned by Enterprise Investors, who purchased the chain six years ago. Enterprise Investors typically exits from invested companies within five years, suggesting a forthcoming sale. Last year, JP Morgan was hired to explore strategic options for Studenac. CVC previously attempted to enter the Croatian retail market by acquiring Tommy, but the deal was unsuccessful. Large foreign retail chains are unlikely suitors for Studenac, with regional chains like Zabka or Biedronka from Poland being more likely candidates. Concerns about Studenac’s financial performance include shrinking profit margins due to rising salary costs, a significant amount of goodwill assets, and slow growth in free cash flow compared to revenue.
