Mercator S signed the contract today (August 4, 2010) with Smederevo-based business system Coka on 15-year rental of facilities, in which 9 million euros will be invested.
– By renting 22 facilities of Coka, we continue expanding our retail network in the regions of Podunavlje and Branicevo – Stanka Curovic, the Chairman of the Managing Board of Mercator S, said at the press conference.
She pointed out that the cooperation with Coka would enable Mercator S to increase its share in the market of Serbia to about 9% and, thus, secure its position as the second largest trader in the country.
Coka’s facilities will be operating under the Roda brand, which is owned by Mercator.
– The partnership with Mercator will make it possible for Coka to feel secure during next 15 years, and it will also enable the sale of goods made in Odzaci-based packaging factory Mladost and development and technological improvement of its production capacities – said Coka’s representative Zoran Rajic.
In addition to Mladost factory, Coka business system also comprises trade companies Coka and Dunav in Smederevo, Inex Velepromet in Velika Plana, Mlava in Petrovac on the Mlava, and Nova Trgovina in Petrovac.
Coka has 37 facilities and about 500 employees, 230 of whom will be taken over by Mercator.
Slovenian Mercator formed Mercator S in Serbia in 2001 and it has, so far, invested 300 million euros in Serbian market through that company, which now employs 4,200 people.