Mk Group Buys Fortenova’s Dijamant Oils Business In Serbia

Credit: Ivan Pancic/Shutterstock

Conglomerate MK Group has agreed to acquisition Serbian edible oils shaper Dijamant from Croatia’s Fortenova Group.

The woody was announced successful individual statements yesterday (27 January) from MK Group and Fortenova, which said nan disposal of Dijamant “marks our exit from nan cultivation manufacture and nan edible lipid industry”.

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Financial position were not disclosed, while nan transaction remains taxable to regulatory title approvals.

According to Fortenova’s website, Dijamant is nan “leader” successful nan accumulation of edible oils, margarines, rootlike fats, mayonnaise, and mayonnaise-based delicatessen products successful Serbia nether its ain marque name.

In what was formerly operating arsenic nan trading institution Agrokor earlier undergoing a restructuring exercise, Fortenova’s waste of nan Dijamant business is nan latest disposal of prime nutrient and drinks assets by nan Croatian group.

Perusko added that Fortenova had afloat settled Dijamant’s debts making love from earlier 2017 and has invested much than €40m ($47.6m) successful nan company’s four-decade-old accumulation installation successful Zrenjanin, successful bluish Serbia.

“We doubled accumulation capacities, improved competitiveness and accrued marketplace share,” Perusko said.

MK Group, which is progressive crossed agriculture, tourism, spot and renewable power successful Serbia, Montenegro, Croatia and Slovenia, said nan woody would let it to use its existing expertise crossed its nutrient and farming portfolio to Dijamant.

MK Group wide head Mihailo Janković said: “I americium assured that nan transportation of our know-how, acquisition and expertise, built done galore years of managing cultivation and nutrient companies, will alteration Dijamant to execute important improvements successful processes, value and innovation, arsenic good arsenic create further worth for employees, consumers, partners and nan full industry.”

Fortenova besides sold a cooking oils business past twelvemonth successful Croatia and Slovenia. In November, Podravka-owned nutrient group Žito agreed a woody to bargain nan Zvijezda businesses, which besides included spreads, sauces and condiments.

In different disposals, Croatian alcoholic drinks group Badel 1862 struck a deal to get section wine, food and olive-oil shaper Agrolaguna, on pinch nan winery Vinarija Novigrad, from Fortenova.

Divestitures person besides included a clutch of nutrient and drinks assets sold to chap CPG business Podravka. The woody featured consequence and vegetables processor Pik-Vinkovci and grains wholesaler Felix.