Mlinar Parent Bags Equity Financing For Bakery Expansion

Credit:  Robson90/Shutterstock.

Croatian baked equipment shaper Mlinar has attracted up to €50m ($58m) successful equity financing from Europe’s starring improvement slope to money description .

The European Bank for Reconstruction and Development (EBRD) said it is providing nan money to Mlinar’s genitor institution See Bakery International to support an “expansion and modernisation strategy” successful Croatia and nan wider region.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to scope engaged professionals crossed 36 starring media platforms.

Find retired much

It will spell towards backing integrated maturation and besides M&A, nan EBRD said successful a connection coming (22 December).

The finance will besides thrust energy-efficiency improvements, boost accumulation and beforehand inclusive workplace practices, pinch a attraction connected supporting female migrant workers.

Mlinar supplies awesome retailers, hospitality and nan foodservice transmission and exports to much than 20 markets.

The institution besides operates a bakery unit web successful Croatia, Serbia, Slovenia, and Bosnia and Herzegovina.

Mladen Veber, president of nan committee of Mlinar, said: “The EBRD’s strategical introduction into Mlinar validates nan value of our business model, financial capacity and semipermanent potential. This represents a important acknowledgment of nan activity we person done truthful far, arsenic good arsenic our strategical vision.”

Earlier this year, Croatian finance institution Bosqar Invest completed its acquisition of a mostly stock successful Mlinar for astir €100m.

The woody saw Bosqar, successful business pinch existing shareholders of Panvita Group and Mlinar’s guidance squad led by CEO Mladen Veber, return a 67% indirect liking successful nan bakery group. It is besides a controlling shareholder of See Bakery International.

Natalia Zhukova, nan EBRD’s caput of nutrient and agribusiness, said: “We are pleased to support our customer Bosqar arsenic they grow further successful nan nutrient vertical done our finance successful Mlinar’s eager maturation strategy, which combines integrated description pinch targeted acquisitions.”

She added: “We judge that, nether Bosqar’s strategical leadership, Mlinar is good positioned to accelerate its maturation and create sustained value.

“Our finance will besides support Mlinar’s energy-efficiency initiatives and thief beforehand higher standards of worker inclusion.”

Vanja Vlak, Bosqar’s CFO, said: “This finance marks a pivotal measurement successful advancing Mlinar’s semipermanent maturation strategy and further validates nan spot of our operating model.

“The EBRD’s activity successful this information – and our ongoing business – reflects beardown assurance successful nan advancement we person achieved and nan worth we proceed to create crossed our portfolio.”