With the takeover of 67 Franca markets with 900 employees in Montenegro, the last phase of the purchase procedure was completed today in accordance with the contract formally concluded by the Mercator-CG and Franca companies at the end of May.
With the finalization of that takeover, Mercator-CG, which has been operating within the Fortenova Group since April 2021, becomes the largest employer in Montenegro, with over 2,500 employees, while with 195 retail outlets, it also becomes the most widely distributed retail chain in the country.
In the coming period, Franca Market will continue its operations under the same name, and at the moment there are no planned changes to the working regime, job description or location of work. Mercator-CG, as the new employer, takes over all rights and obligations from the employment contract of the employees.
The executive director of the company Mercator-CG, Ivan Karadžić, said that through this merger, their team became stronger for another 900 colleagues who continue their work engagement in their company.
He added that the takeover marks an important step in the company’s strategic development, because with it Mercator-CG, which with the IDEA brand had until now over 120 retail stores and more than 1,500 employees, and was present in 19 municipalities of Montenegro, is now definitely positions itself as a leader on the Montenegrin market.
The companies Mercator-CG and the shopping chain Franca signed a purchase agreement at the end of May, and the transaction was previously approved by the Agency for the Protection of Competition.
