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Croatia-based Podravka Group said first-quarter sales grew by almost one-third thanks to its acquisition of Slovenia's Žito. 

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Croatia-based food-to-pharma group Podravka has reported a near-8% rise in sales for 2015, with its food division, including the newly-acquired Slovenian pasta-to-confectionery group Zito, offsetting lower sales in pharmaceuticals.

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Croatia-based food group Podravka has announced plans to buy up the remaining shares in Slovenian pasta-to-confectionery group Zito, only six months after striking a deal to buy a 51% majority stake in the company.

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Croatia-based food group Podravka has struck a deal to buy over 51% of Slovenian confectionery-to-pasta firm Zito for EUR33m.

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This week, bakery business Aryzta announced it was in talks to invest in French frozen food retailer Picard while the M&A rumour mill span with reports Mondelez International is considering selling its rights to the Philadelphia brand. Elsewhere, The Real Good Food Co. said it was exploring options for its under-performing sugar business Napier Brown.

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The consortium of investors looking to sell a majority stake in Slovenian food group Zito is still in talks with two bidders, one of the shareholders told just-food today (30 March).

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Croatia-based food group Podravka is reportedly set to acquire control of Zito, Slovenia's largest food manufacturer, in a deal said to be worth EUR60-65m.