After expanding into Slovenia, Studenac wants to double in size by 2028

Studenac, one of the fastest-growing food retailers in Central Europe, saw its sales rise 22 % in 2024 and aims to more than double its size to 3,400 stores by the end of 2028, partly through acquisitions.

Market consolidation

Croatian food retailer Studenac saw its revenue rise 22 % to 816.5 million euros last year. Adjusted EBITDA went up 18 % to 78 million euros. On a like-for-like basis, revenue rose 11 %. The company opened 140 new stores and also made its first acquisition in Slovenia. The group now operates 1443 stores in both countries, with 160 openings planned this year, but its sky-high ambition is to have 3,400 stores by the end of 2028.

“We are accelerating organic expansion while also continuing the proven strategy of market consolidation in Croatia and Slovenia”, CEO Michał Seńczuk said. The Pole attributes his chain’s success to a strong proximity store concept. In September, Studenac will open a new distribution centre in Velika Gorica, near Zagreb. Next year, there will also be a new warehouse in Dugopolje, near Split.

Studenac was founded in 1991 and grew fast to become the largest food retailer in Croatia by number of stores and one of the fastest-growing chains in Central Europe. Since 2018, the company has more than tripled the number of stores. Majority shareholder of Studenac is the Polish investment fund Enterprise Investors.