Podravka Offloads Confectionery Assets To Upi Star In Bosnia And Herzegovina

Podravka signage connected apical of building successful Zagreb, Croatia. Credit: Hayran1/Shutterstock

Podravka is trading nan confectionery business held by nan Croatian agri-food group’s subsidiary successful Slovenia.

Žito is offloading nan assets to UPI Star based successful Sarajevo for €8.6m ($10.1m). The transaction includes nan brands Šumi, Gorenjka, Herba, Mistica and Bali, on pinch 2 factories successful Krško and Lesce, some successful Slovenia.

All labor will besides transportation to nan caller owner, Podravka said successful a statement, without providing numbers.

Žito, based successful Ljubljana, is disposing of nan confectionery assets to attraction connected its halfway business successful bakery.

A caller institution will beryllium group up by UPI Star to location nan confectionery business – UPI Star SEE Ljubljana. Meanwhile, Žito will rotation disconnected nan confectionery operations anterior to nan woody being concluded into a caller legally registered company, Šumi Gorenjka.

Post nan transaction, Podravka will proceed arsenic a supplier of nan confectionery brands to beryllium disposed of by Žito.

“This determination is portion of our strategical predisposition to attraction Žito Ltd. Ljubljana connected bakery arsenic its halfway activity, while besides ensuring that nan confectionery business is preserved and further developed,” Martina Dalić, nan president of Podravka, said successful nan statement.

“We are pleased to person recovered a partner who will proceed to put successful and create Šumi and Gorenjka, thereby preserving these valuable brands.”

UPI Star is owned by nan family of section entrepreneur Rusmir Hrvić, who is besides nan co-owner and CEO of AS Holding based successful Bosnia and Herzegovina, according to Podravka.

Set up successful 2016, AS Holding is simply a diversified nutrient and beverages institution producing bakery products, confectionery, soups and spices, java and soft drinks.

Podravka took over Žito successful 2016 aft expanding its existing stock holding to afloat ownership.

It besides expanded its ain portfolio past year pinch nan acquisition of nan nutrient and drinks assets, and associated companies, of section agri-food business Fortenova Group.

In nan transaction weighted astatine €333m, Podravka bought six of Fortenova’s subsidiaries, including consequence and vegetables processor Pik-Vinkovci and grains wholesaler Felix. Belje, a shaper of wines, dairy products, cured meats and tomatoes, besides featured successful nan deal.