Croatian dairy company Lura has reportedly confirmed its EUR22.35m (US$26.9 m) deal to sell 99.56% of confectioner Karolina to German snacks producer Lorenz Snack-World.

Lura told SeeNews: “A contract to transfer and take over Lura’s stake in Osijek-based company Karolina signed between Lura and Lorenz Bahlsen Snack-World has been entirely carried out.”

The newswire said that a Lura shareholders meeting approved the deal on 23 December 2005 and Croatian businessman Luka Rajic is now the majority owner of Lura with a 92% stake in the company.

Lorenz Snack-World produces chips, nuts and other salty snacks. It has 2,900 employees and seven units in Germany, France, Poland and Italy.