Studenac
Studenac is Croatia's largest food retailer, operating 1,300+ grocery stores across Croatia and Slovenia. It serves individual consumers and households through physical retail and quick commerce delivery via the Glovo app, pursuing aggressive store-count growth.
- Company typePrivate
- Founded2018
- HeadquartersOmis, Croatia
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Studenac does
Studenac is Croatia's largest food retailer, operating a network of over 1,300 grocery stores across Croatia and Slovenia. The company pursues a dual growth strategy combining organic store openings with aggressive market consolidation through acquisitions of regional chains — Lonia (300 stores, 2022), La-vor Trade (16 stores in Istria, 2023), and Kea in Slovenia (31 stores, 2024). The Kea acquisition marked Studenac's first international expansion, adding approximately €50 million in annual revenue from the Slovenian market. Studenac serves individual consumers and households for daily grocery shopping, with a horizontal segmentation approach targeting mass-market food retail across both continental and coastal Croatia plus Slovenia.
The company is majority-owned (over 90%) by Polish private equity firm Enterprise Investors, which has driven the acquisition-led expansion since 2018. Operationally, Studenac operates traditional physical retail storefronts complemented by quick commerce delivery through a partnership with Instaleap (orchestrating order picking) and Glovo (delivery platform), enabling grocery orders placed via the Glovo app to be fulfilled from physical stores. The company is developing a new distribution centre in Velika Gorica expected to create approximately 500 jobs, and has invested in energy efficiency measures supported by a €40 million EBRD loan.
Financially, Studenac is backed by a total of approximately €340 million in loan facilities (€40M from EBRD in August 2024 plus €300M from undisclosed lenders in April 2026), following a cancelled ~€80 million IPO attempt in November 2024 due to adverse capital market conditions. Enterprise Investors confirmed the 2025 growth investment plan remains intact, funded through internal cash flow and profit reinvestment. The company targets reaching 3,400 stores by the end of 2028, with a stated focus on organic growth and continued acquisitions across Croatia and Slovenia. No proprietary AI/ML capabilities are evident; digital capabilities are primarily delivered through third-party platform integrations.
Studenac firmographics
Firmographics- Name
- Studenac
- Legal name
- Studenac d.o.o.
- Website
- https://studenac.hr
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Studenac is Croatia's largest food retailer, operating 1,300+ grocery stores across Croatia and Slovenia. It serves individual consumers and households through physical retail and quick commerce delivery via the Glovo app, pursuing aggressive store-count growth.
- Ownership category
- akta.pro rank
Studenac industry classification
Industry- Product category
- Grocery Retail
- NAICS
- Supermarkets and Other Grocery Retailers (except Convenience Retailers) (44511), Grocery and Convenience Retailers (4451)
- SIC
- Retail-Grocery Stores (5411), Retail-Food Stores (5400)
- akta.pro primary industry
- Full-Line Supermarkets (National/Regional Chains) (CRAHAAAA)
- akta.pro secondary industries
- Grocery & Food Omnichannel (CRAFAEAE), General Online Grocery (Full-Basket) (CRAHAIAA)
Keywords
Where Studenac is headquartered
LocationHeadquarters
- HQ city
- Omis
- HQ country
- Croatia
- HQ region
- Europe
Offices2 records
Markets served
Studenac business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel
Revenue model
- Physical Retail Store Sales: Revenue generated from sales of food and grocery products through physical retail stores across Croatia and Slovenia. The company operates over 1,300 stores following acquisitions of Lonia (300 stores), La-vor Trade (16 stores), and Kea (31 stores).
- Quick Commerce/Delivery Orders: Revenue from grocery orders placed through the Glovo app, with orders picked from physical stores and delivered to customers via the quick commerce platform.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels1 record
Studenac product offering
Product offeringCore offering
Studenac operates a network of more than 1,300 physical grocery retail stores and supermarkets across Croatia and Slovenia, selling food and everyday household products to individual consumers. The company pursues growth through organic store openings and acquisitions of regional chains, supplemented by quick commerce grocery delivery enabled through a partnership with Instaleap and the Glovo platform.
Product overview
Studenac is Croatia's largest food retailer, operating a network of over 1,300 stores across the country. The company has pursued a growth strategy combining organic expansion with acquisitions of regional chains including Lonia (300 stores), La-vor Trade (16 stores in Istria), and Kea (31 stores in Slovenia). In 2026, Studenac launched quick commerce operations through a partnership with Instaleap to power Glovo order fulfillment across its store network, enabling rapid grocery delivery to customers.
Differentiator
Problem solved
Functional benefit
Products and services
- Studenac grocery retail stores
Quantifiable outcome
- Store network expanded to over 1,050 outlets following Lonia acquisition
- +2 more outcomes
Companies that use Studenac
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Studenac technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature1 record
Studenac partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- InstaleapcorePartnership with Instaleap to power quick commerce operations across Studenac's network of over 1,300 stores in Croatia. Instaleap natively orchestrates Glovo order picking, aiming to drive speed, accuracy, optimize operational costs, and enhance customer satisfaction for grocery orders placed through the Glovo app.
- GlovocoreQuick commerce platform enabling grocery delivery from Studenac stores. Glovo announced new product features including Discovery Wall, verified customer reviews with photos, and Fast Track grocery shopping through occasion-based baskets. Orders are picked from physical Studenac stores and delivered to consumers.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Studenac competitors and assessment
Company assessmentDirect peers
- Konzum: Croatia's second-largest grocery chain operated by Fortenova Group, directly competing with Studenac across supermarket formats in Croatia. Highly comparable in terms of product assortment, customer base, and store formats.
- Tommy: Croatian regional grocery and wholesale chain operating supermarkets and cash-and-carry formats across Dalmatia and continental Croatia. Comparable regional consolidation strategy and mid-market positioning to Studenac.
- Plodine: Croatian family-owned grocery chain with multi-format presence including supermarkets and hipermarkets. Competes directly with Studenac in coastal and continental Croatian markets with similar mid-market positioning.
- Spar Hrvatska: Croatian franchisee of the international Spar Group operating supermarkets and hipermarkets across Croatia. Directly comparable in product mix, customer base, and multi-format retail strategy to Studenac.
- Mercator: Slovenia's largest grocery retailer, making it a direct peer in Studenac's newly entered Slovenian market via Kea. Comparable in grocery assortment, format, and target customer, and represents the primary competitor Studenac now faces internationally.
Broad incumbents
- Lidl Hrvatska: Croatian operations of German discount giant Lidl, operating a national network of hard-discount grocery stores. Comparable as a major Croatian grocery competitor but with a fundamentally different low-price discount model versus Studenac's full-line supermarket approach.
- Kaufland Hrvatska: Croatian operations of the German hypermarket/discount chain Kaufland (Schwarz Group). Large-format grocery competitor with broad assortment overlapping Studenac's core offering and aggressive expansion in Croatia.
- Fortenova Group: Croatian regional conglomerate controlling Konzum and other food/retail businesses across the Balkans. Comparable as a PE-backed/turnaround-driven retail platform competing with Studenac in Croatian grocery and broader consumer goods.
Emerging players
- Eurospin: Italian discount grocery chain expanding across Croatia and the Adriatic region. Comparable as a competitor in the Croatian grocery market but with a hard-discount model distinct from Studenac's full-line supermarket positioning.
Regional players
- Pevec: Croatian retail chain historically focused on home improvement and household goods with growing grocery assortment. Comparable as a domestic Croatian multi-category retailer operating physical stores, though less directly overlapping with Studenac's pure-grocery model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Studenac social profiles
Digital presenceStudenac financial estimates
Financial estimateRevenue estimate
Valuation estimate
Studenac leadership team
Management profileNumber of profiles
Studenac subsidiaries and ownership
Company hierarchySubsidiaries3 records
Studenac funding detail
Funding detailFunding overview
Funding rounds2 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Studenac M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Studenac
What does Studenac do?
Studenac operates a network of more than 1,300 physical grocery retail stores and supermarkets across Croatia and Slovenia, selling food and everyday household products to individual consumers. The company pursues growth through organic store openings and acquisitions of regional chains, supplemented by quick commerce grocery delivery enabled through a partnership with Instaleap and the Glovo platform.
Is Studenac a public or private company?
Studenac is a private company. It is classified as private equity controlled and is currently operating.
When was Studenac founded?
Studenac was founded in 2018. It employs 5,001 to 10,000 people.
Where is Studenac based?
Studenac is headquartered in Omis, Croatia, in the Europe region.
How does Studenac make money?
Two revenue lines are on record. Physical Retail Store Sales are the primary driver. The others are quick Commerce/Delivery Orders.
Who are Studenac's main competitors?
Direct peers on record are Konzum, Tommy, Plodine, Spar Hrvatska and Mercator. Broad incumbents are Lidl Hrvatska, Kaufland Hrvatska and Fortenova Group. Eurospin is listed as an emerging player. Pevec is listed as a regional player.
Does Studenac have an API?
No public API is recorded for Studenac.
What industry is Studenac in?
Studenac's product category is Grocery Retail. Its primary akta.pro industry code is CRAHAAAA, Full-Line Supermarkets (National/Regional Chains), with a secondary code of CRAFAEAE, Grocery & Food Omnichannel. Its NAICS code is 44511 and its SIC code is 5411.