Israeli food giant Elite Industries revealed earlier today [Wednesday] that its subsidiary Elite International has been looking to enter the Serbian coffee market for the last year and a half.

Elite is currently ranked eight in coffee sales on a global level, and has invested heavily in overseas expansion recently.

In a statement to the Tel Aviv Stock Exchange, the company said: "Elite International is currently in negotiations with a local entity [and] if the negotiations are successfully completed, the process of entering the Serbian coffee market will be realised."