Alta Retail Takes Over Idea, Roda and Mercator in Serbia
Fortenova Group has left Serbian retail. Davor Macura's Alta Retail took over Idea markets, which had operating revenue of about 780 million euros and a 34.5 million euro loss in 2025.
Alta Retail, wholly owned by businessman Davor Macura, formally closed its takeover of Idea markets and four other Fortenova Group companies on October 13, 2026. The deal brings more than 300 Idea stores, 33 Roda markets and two Mercator hypermarkets in more than 80 towns and cities across Serbia under its roof, according to figures N1 took from the company’s website.
The purchase agreement was signed in mid-September. Fortenova Group has now said that all conditions in the sale documentation have been met and that its exit from the Serbian retail market is formally complete. In its own statement, Alta Retail says all regulatory approvals have been obtained.
What exactly changed hands?
The transaction covers more than a store chain. Alta Retail acquired business stakes in five companies:
- Idea markets d.o.o. Belgrade, known until mid-May 2025 as Merkator S, which operates the Idea, Roda and Mercator stores
- Enna Fruit Grocka, a fruit and vegetable supplier whose logistics and distribution of fresh produce are part of the acquired system
- Super kartica Belgrade, the loyalty program
- M-Profil SPV Belgrade, a property management company
- mStart Business Solutions Belgrade, IT and digital solutions
Enna Fruit stands apart from the other four: it was not owned directly by Fortenova but by the Croatian company Arivera Fruit, a member of the group.
What numbers did Alta take on?
Most of the value sits in Idea markets, and its results are poor. According to the 2025 annual accounts, which N1 read at the Serbian Business Registers Agency, the company’s operating revenue was about 780 million euros, down 14% from 910.9 million euros a year earlier. Sources differ on the last digit (779.8 or 779.9 million), a matter of rounding.
Net loss grew from 3.2 million euros in 2024 to 34.5 million euros in 2025. EBITDA for the same period was 50.29 million euros, a 33% drop.
Headcount figures do not match across sources. N1 reports 7,752 workers at Idea markets based on the 2025 annual account, while Alta Retail, in a statement carried by Nova ekonomija, describes a business system with more than 6,500 employees and a network of more than 600 suppliers. No source explains the gap, so the two figures cannot be added or compared.
The other four companies are much smaller:
- Enna Fruit has 83 employees and operating revenue of 53.5 million euros, against 51.45 million a year earlier
- mStart Business Solutions has 28 employees and operating revenue of 1,529,433 euros
- Super kartica has six employees, down from 17 a year earlier, with operating revenue of 790,888 euros against 1.36 million euros the year before
- M-Profil SPV has one employee (none in 2024) and operating revenue of 739,397 euros
How much did Alta pay?
The price has not been disclosed. Neither Fortenova Group nor Alta Retail states it in their statements, and it does not appear in the three texts we read.
What does the buyer promise, and what goes unanswered?
Fortenova’s statement says the owner’s aim is to open a “new chapter of growth through modernization, improved processes and innovation” for the companies. Alta Retail announces a focus on operational efficiency, further investment in modernization and technology, cooperation with the domestic economy and a better customer experience. In the same statement, Fortenova said:
“The owner’s aim is to open a new chapter of growth for the companies through modernization, improved processes and innovation, with full respect for the identity, values and tradition that the Idea, Mercator and Roda brands have built on the market for years.”
What this means for shoppers and suppliers, the sources do not say. None of them mentions changes to prices, product range, the number of stores or the terms of the Super kartica program.
Why did Fortenova sell?
Fabris Perusko, a management board member and chief executive of Fortenova Group, explained the reason when the agreement was signed in September. The group’s retail strategy is to be the leading retailer in the markets where it operates, and that position in Serbia, he said, would require large investment over a long period. So the group decided to leave the business. He also thanked the employees of the companies covered by the transaction, and said of the benefit to the group:
“This increases our capacity and focus for the long-term strengthening of our positions in the markets where we already hold leading places and which are mostly tied to the euro as their currency.”
How was the deal announced?
The first public trace of the purchase appeared in April 2026, when North Macedonia’s Commission for the Protection of Competition announced that Alta Retail had filed a request to acquire full control of five Fortenova companies. The request was filed on April 16, 2026, and according to the commission the firm was then a newly established special purpose vehicle (SPV) for carrying out the transaction. The commission stated that, “until the date of filing the request, it has no business activity and serves solely the needs of the transaction.” Alta Retail is registered as a holding company.
