Croatian food and healthcare firm Atlantic Grupa has signed an agreement to buy Slovenian food maker Droga Kolinska.
Droga’s owner Istrabenz said in a statement today (1 July) that the agreement is for a 100% share in Droga Kolinska worth EUR382m (US$474m).
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The price will be paid in cash of which the net debt will be deducted at the time of closing.
Droga said Atlantic Grupa was chosen as “the best bidder amongst a wide range of investors”.
It is expected that the sale process will be finalised by the end of the year.
The transaction will be financed through a combination of Atlantic Grupa capital, stockholders’ capital and credit through financial institutions such as UniCredit Group and Raiffeisen Group.
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By GlobalData“Through the acquisition of Droga Kolinska, Atlantic Grupa becomes one of the largest food companies in Southeastern Europe, with revenues exceeding EUR600m, 4300 employees and one of the strongest portfolios of wholesale products,” Istrabenz said.
Brands include; Cedevita, Argeta, Barcaffe, Grand Kafa, Cockta, Smoki and Multipower.
