Speaking after the acquisition of a majority stake in Mercator, Agrokor’s chairman, Ivica Todoric, gave further details about expectations around the combined company.
Todoric says he convinced about profitability
Todoric said that he would not have acquired Mercator if he did not believe that the combined Agrokor/Mercator would create a good company that could generate profits. He was quoted as saying: “Our main objective is to give Mercator a new vision and create a very good company that will do business effectively and at a profit. I think that we can do wonders in the first year.”
Todoric said that he expected to be able to build rapid synergies between the two companies’ networks. These synergies would be found through the fact that there would no longer be any need for dual warehousing and transport capacities in markets where they both operate. Todoric said that he expected the transaction to be completed by the start of 2014, with restructuring to be completed by the end of that year.
Slovenian suppliers told they have nothing to fear
Todoric refuted suggestions that the combined company would favour products from suppliers in Croatia. He was quoted as saying: “The concentration of commerce in the region is very significant to protect domestic suppliers”.