Czechs expanding to another nine Serbian cities – Dr. Max Srbija acquires Zalfija pharmacy chain

Pharmacy chain Dr. Max Srbija, part of Czechia-headquartered Dr. Max Group, said it has acquired Serbian peer Zalfija, expanding its presence to nine more cities across the country.

– This acquisition represents another important step in expanding our network and strengthening our market presence – Dr. Max Srbija said in a post on LinkedIn last week, without disclosing the financial terms of the deal, SeeNews reports.

Zalfija owns 30 pharmacies in 17 Serbian cities, as per the statement.

Dr. Max Group is owned by the Czech investment group Penta and is the biggest pharmacy chain in Central and Eastern Europe. It has been operating in Serbia since 2017, where it owns 320 pharmacies and employs 1,700 people, according to its website. Elsewhere in the region, it operates in Bulgaria and Romania.

Zalfija, founded in 2013 in the southern Serbian town of Svrljig, was owned by local entrepreneurs Dejan Stamenkovic and Srdjan Stefanovic prior to the acquisition by Dr. Max Srbija, according to data from Serbia’s business registers agency, reminds the SeeNews portal. In 2024, Zalfija posted operating revenue of 1.6 billion dinars (USD 16.1 million/13.7 million euro) and net profit of 5.1 million dinars, according to its annual financial statement.

AU Dr. Max Beograd

Dr Max Srbija

Penta

Dejan Stamenković

Srđan Stefanović

Žalfija pharmacies