Studenac, Croatia’s largest retailer by number of stores, has acquired La-Vor, a proximity retail chain on the Istrian peninsula, reaching its goal of three acquisitions this year and reaffirming its target of a 10% market share by the end of 2025.

Established in 1991 and based in the Istrian town of Buzet, La-Vor operates 16 stores and has more than 200 employees. The chain is well known for its conveniently located stores with an average size of approximately 200 square meters, and exceptionally high standards of customer service.

“It’s great to be doing another acquisition in Istria, which is where we started our nationwide expansion back in 2019 with the purchase of Istarski Supermarketi,” said Studenac Board President Michał Seńczuk. “La-Vor is a very well-managed business, with very high sales per square meter and strong brand recognition in the region. They’re a great fit with our proximity retail model, because just like us, they concentrate on building customer loyalty by providing high-quality products in neighborhood shops.”

Studenac is closing the year with 1,269 stores, with growth driven both by organic expansion and by acquisitions. Sales in 2023 rose by more than 30%. The company has tripled its network since it was acquired five years ago by leading Central European private equity fund Enterprise Investors, both through organic growth and via eight sizable acquisitions including La-Vor.

Studenac has invested more than €160 million integrating the retail market, including the takeovers of Strahinjčica and Špar earlier this year, and forecasts that this consistent growth strategy will make it one of Croatia’s top three retailers in 2025, with a market share of 10%.

Studenac plans to invest in areas including La-Vor’s sales network, employee development and process modernization. La-Vor employees will join more than 6,500 members of the Studenac team. The company based in Omiš, on Croatia’s southern coast, has developed a model for integrating employees from acquired companies, which have already brought in around 2,900 new employees.

Studenac’s integration strategy centers on understanding the target company’s organizational culture and crafting a comprehensive plan of alignment, a process that can take up to 12 months. Employees of La-Vor will keep the benefits they already enjoy and are entitled to new ones available to Studenac employees.