Croatian food group Podravka is to invest in increasing its processing capacity for tomatoes in its home market.

The company is building a new facility at its existing Kalnik site in Varaždin.

The Vegeta brand owner’s aim with the move is to increase its primary processing capacity for fresh tomatoes.

Podravka is spending €13m ($14.1m) on the project, which is expected to be completed this summer.

In 2023, the group generated revenue of €713.8m, up 7% on a year earlier. Revenues from the food division were up 6% at €553.6m, Podravka, which also interests in the pharma sector, said.

EBITDA fell 2% to €91.9m amid rising input costs. The food division reported a 15% drop in EBITDA to €9.3m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Group net profit after minority interests was 35.3% higher at €66.4m.

Podravka’s portfolio includes a variety of food brands such as Vegeta, Lino or Eva. It’s already present in tomato production with tinned pureed, peeled, chopped tomato and passata under the Podravka brand name.

In March last year, the two Croatia-based food majors Atlantic Grupa and Podravka, struck a deal to work together on improving their business in export markets.

The publicly-listed companies said their “mutual export support” would focus on the US and Austria.