The state antitrust commission has approved the acquisition of the local retail chain Piccadilly by Serbia’s leading private investment group Delta Holding. The commission states that the market share of the local retailer is below the 35% benchmark for market dominance while Delta Maxi has not been operating in the country until now. Delta Maxi plans to invest EUR 70mn in 20 new stores in the country. The local retail chain expects a sales increase of 40% to EUR 110mn this year. It would get a 20 to 25% market share as a result of the expansion.
Source: Intellinews-Bulgaria Today