Croatian food producer Atlantic Grupa has entered talks to buy Serbian condiment and spreads maker Foodland.

In a bourse filing, Atlantic Grupa, which makes savoury spreads and snacks, said it “has started the negotiations process for takeover of the proprietary interest in the company Foodland”.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

It stressed, however, the negotiations had “not been finalised”.

According to local press, struggling Foodland has for some time been looking to recapitalise.

At the end of October, Atlantic Grupa cut its 2014 sales forecast as it battled a “challenging business environment”. The company expects its 2014 sales to reach HRK5.22bn (US$856.9m), up 4.3% on 2013 but down on its forecast in July of annual sales HRK5.44bn.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now