Two frontrunners have emerged for the purchase of Slovenia’s fourth largest grocery retailer Tuš, which was recently offered for sale.
The Alfi financial fund, which holds 80% of parent company Engrotuš since 2020, has been considering potential bidders since the end of 2022.
Bidding Contenders
According to Slovenian portal necensurirano.si, one of the potential bidders is Montenegrin retail chain Voli, the largest employer in the country, which is owned by local businessman Dragan Bokan.
Since commencing operations in 1995, the company has grown into a chain that controls a 30% share of the retail market in Montenegro. It has also expanded into tourism and the agro-processing industry, as it aims to become the largest food producer in Montenegro.
Another interested party is German retail giant REWE Group, which owns around 3,300 stores across various European countries, generating around €60 billion in annual turnover.
Read More: REWE Group Extends CEO Lionel Souque’s Contract
Sale Decision
The portal claims that a decision on the sale of Tuš will be made in the next couple of months and the possibility of dividing up the company cannot be excluded.
Engrotuš had financial obligations of over €260 million as of 2019.
During a recent financial restructuring process, some larger shopping centers and real estate were sold, reducing debt.
According to the last available data, in 2021 Engrotuš generated almost €455 million in net sales revenue and €4.2 million in net profit.
The remaining 20% of Engrotuš is owned by company founders Mirko and Tanja Tuš.
Read More: Tuš Rolls Out New Mobile Store In Slovenia
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