Addressing reporters, Kerum confirmed the news that Agrokor's Konzum retail chain had expressed interest in taking over his shops.
Describing Agrokor as a big Croatian company which he respected, Kerum said that he had been building the Kerum brand for 21 years.
"We operate well and I will certainly not sell our shops," Kerum said, also ruling out a lease.
Konzum issued a statement on the Zagreb Stock Exchange on Thursday saying that negotiations were under way on concluding a long-term agreement with the Split-based Kerum company on taking its shops on lease.
According to Konzum, the Kerum company operates 83 retail shops which generated a sales revenue of HRK 1.16 billion in 2009.