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By signing the Share Transfer Agreement, Podravka closed the acquisition of Fortenova Group’s agriculture segment, thereby finalising the takeover process of Belje, Vupik, PIK Vinkovci, Energija Gradec, Belje Agro-Vet and Felix. This transaction marks a historical moment for Podravka, additionally strengthening its position as the country’s largest food processing industry and one of the leading in the region.
Podravka, as the owner of all subsidiaries forming the Podravka Group, will manage the agricultural segment through its company Podravka Agri.
“Exactly a year ago we sent the information materials about the six companies constituting the Agriculture Division to the addresses of a number of interested buyers and thus initiated the process of gauging the interest for their potential divestment. Only a year later, we are able to completely close the very complex divestment transaction. Everyone who has ever worked in M&A activities knows how demanding it is to realise the sale-purchase of only one company, let alone an entire division with a number of intertwined relationships among the companies. Hence I would, above all, like to congratulate all the teams from both companies on their exceptional engagement and expertise required to manage and close this process, as well as to our advisors Zagrebačka banka and legal team from Mamić Perić Reberski Rimac .
Today many at Fortenova Group are sad, as people whose dedication has been the foundation of our agriculture segment’s strength are leaving the system after around 20 years of common work, investments and development. Hence the human capital that Podravka is about to receive is invaluable. We believe that they will provide their new company with another dimension of even higher quality.
And last but not least, Fortenova Group views this formal step that we are taking today as the continuation of our relationship within a new framework – through the partnership between two large Croatian companies. After all, this very transaction is the result of our conviction that Podravka, which has itself fostered primary production, is a more natural environment for the agri companies, where they will, in addition to their own potential in the form of expertise and personnel, focused leadership and development vision, also gain new momentum. I am looking forward to witnessing that as partners”, said Fabris Peruško, Fortenova Group’s Chief Executive Officer and Member of the Board of Directors, congratulating the partners on closing the Agriculture Division sale-purchase transaction.
Martina Dalić, Chairwoman of the Management Board of Podravka as well as of the Supervisory Board of the company Podravka Agri, pointed out that by closing this acquisition they were about to proudly open a new chapter in the history of the Podravka Group.
„Herewith the Podravka Group will exceed the amount of one billion euros in revenue and will employ more than 8,800 people. With the successful completion of this demanding process we have confirmed our dedication to the development of the Croatian economy and the local agriculture. I am pleased to wish a warm welcome to the new members into the successful and strong Podravka Group on behalf of all our colleagues. It is our intention to increase the strength and importance of the new member companies with significant investments and by working together on the realisation of our ambitious development plans. This acquisition is an opportunity for all of us to jointly build a sustainable and successful future for the Podravka Group and all its members”, Dalić said.
Podravka Agri shall become the third pillar of Podravka Group’s operations. At the helm of the company Podravka Agri, which will manage the agriculture companies, there will be Davor Doko, who is also a member of Podravka’s Management Board and whose task it will be to make sure that the agriculture companies are integrated efficiently.


In his interview given for Delo’s feature Sobotna priloga of 17th October, Fabris Peruško, Fortenova Group’s Chief Executive Officer, pointed out that after the successful financial restructuring and the divestment of its production companies the Group has become one of the region’s financially most stable companies, its remaining key operational pillars being retail and activities related to it.
He explicitly said that Mercator was not to be divested but, contrary to the rumours, that it was one of the three most important companies of the Group which has, in line with its strategy, transformed its operations into four core businesses: retail, real estate, wholesale – where Mercator Cash & Carry plays an important role, and logistics.
“Today Mercator is a healthy, deleveraged and profitable company which generates approximately 20 percent of Fortenova Group’s total revenues.
In the previous period we have straightened out the problems that had accumulated over the years – from over-indebtedness and inefficiency to unprofitable operations that the company had the least benefit from. Now that all of this has been sorted out, we turn our focus to operations – the improvement of retail and centralisation of warehouses, which will directly contribute to better efficiency” – Peruško said.
In that regard, the priority investment will be the construction and extension of the central warehouse at the existing locations in Slovenčeva Street and Zalog.
On of the points emphasized in the interview was the outright confession that for many years there had been a lack of investment in real estate maintenance, which was about to completely change with the real estate operations having been carved out into a separate sister company.
“Mercator has almost 400 stores all across Slovenia, with as much as 86 percent thereof owned by Mercator’s sister real estate company. I believe that this provides a huge advantage in Slovenia and contributes to resilience in potential crises” – said Peruško and announced an acceleration in the network modernisation: some facilities at excellent locations that, in terms of space, do not meet the contemporary shopping habits anymore, will be demolished and rebuilt, while others will be thoroughly renovated. Following the eight stores refurbished this year, for next year it is planned to renovate another 26 stores and to open three new ones. There is also a comprehensive solution for the Ljubljana-located Maxi under preparation, intended to align strict conservatory requirements with the needs of modern lifestyle.
Peruško paid particular attention to employees and explained that the main focus was on store employees, who directly created added value. This year approximately 19 million euros were invested in salary increases in Slovenia, primarily in stores, with the working conditions thus getting close to those offered by international competitors. He pointed out that further salary increases and operational stability had to be directly related to revenue growth and productivity improvements, which is why new rewarding models and incentives for successful teams were rapidly being introduced.
He also touched upon the situation on the Slovenian retail market which, in his opinion, with a population of two million, was highly concentrated. Peruško stated the position that Mercator, although it featured as much as 80 percent of local products on its shelves, held around one quarter of the market, which means that the origin of the goods was not the only motivation for customers in Slovenia when making shopping decisions. Peruško noted that Mercator would stay a reliable partner to the domestic suppliers, but that overall operations had to be aligned with the expectations and purchasing power of today’s consumers. This means that the Slovenian suppliers had to match their competition in both pricing and quality.
You can read the interview in Slovenian here (.pdf)




After all conditions defined in the sale documentation were met, the sale-purchase process whereby Alta Retail acquired shares in Idea marketi d.o.o. and another four Fortenova Group companies whose operations are related to retail activities in Serbia – Enna Fruit Grocka Belgrade (fruit and vegetables supplier), Super kartica Belgrade (loyalty programme), M-Profil SPV Belgrade (real estate operations) and mStart Business Solutions Belgrade (IT solutions) – has been formally completed.
These companies have thus become part of ALTA Retail, with whose entry into the retail sector Alta Group has made a significant step forward in its further business diversification and invested in companies with strong market positions, recognizable brands and significant potential for further development. It is the owners’ goal to open a new growth chapter for the companies through modernisation, process improvement and innovation, while fully respecting their identity, values and tradition that the brands Idea, Mercator and Roda have been building on the market for many years.


In his large interview published in Jutarnji list on 10th October, Fabris Peruško, Fortenova Group’s Chief Executive Officer and Member of the Board of Directors, spoke about business decisions, past and current economic topics, plans and the strategic direction of Fortenova Group.
“The best proof of the Group’s successful restructuring is the fact that over the course of nine years Fortenova Group has evolved from a state of complete disarray to a company that today has one of the region’s strongest balance sheets. What may have looked as if a complete asset sale was inevitable, ended with the creation of a financially very strong company that has reduced its debt significantly, increased salaries and invested in development” – said Peruško, explaining in detail the foundation that Fortenova Group has built its business and future upon: retail and supporting operations – wholesale, real estate and logistics – all of them carved out into separate business segments in order for each of them to focus solely on its core business and own goals.
“Our choice was to steer Fortenova Group towards retail and businesses related with it, where we see the greatest potential for long-term growth and value creation and for maintaining the leading market position going forward”, Peruško said, clearly stating that the retail and real estate management businesses had completely different business models, which was the reason why they were separated, as well as that real estate operations had an exceptional development potential and that they were the lever that would strengthen the entire Group’s operational efficiency.
In addition to retail and real estate operations, Fortenova Group’s focus is also on strengthening its wholesale business, which along with Roto dinamic d.o.o., the largest drinks and, since recently, also food distributor for the HoReCa channel, now comprises Kenty Adria and Arivera Fruit d.o.o., a fruit and vegetables trader and the largest production organizer, purchaser and exporter of domestic produce, through which Fortenova Group aligns the domestic production with market needs.
For the sake of a clear focus on their own business goals, in 2027 logistics will be separated from the retail business as well.
You can read the interview here (.pdf in Croatian).





Fortenova Group and the company Alta Retail closed a sale-purchase agreement for the business shares of Idea marketi d.o.o., and the transaction includes the sale-purchase of another four Fortenova Group companies whose operations are related to retail activities in Serbia – Enna Fruit Grocka Belgrade (fruit and vegetables supplier), Super kartica Belgrade (loyalty programme), M-Profil SPV Belgrade (real estate) and mStart Business Solutions Belgrade (IT solutions).
Idea Marketi are among the country’s largest retail chains and one of the top 10 employers. They operate through three brands – Idea, Mercator and Roda, with a retail network covering over 80 cities and towns in Serbia.
Among the other four companies subject to this transaction in Serbia, Enna Fruit has the largest market operations, having positioned itself as one of the key players on the fresh fruit and vegetables market of Serbia. mStart Business Solutions provides SAP implementation and support services, as well as ICT, PC support and information security services. Super kartica is one of the country’s largest loyalty programmes, while M-Profil is a real estate company.
“It is Fortenova Group’s strategy in retail to be the leading retailer on the markets where we operate. In order to achieve this goal in Serbia, the Group would need to make significant investments over a long period of time, on a market which has its specific structure and dynamics. We have therefore made the decision to exit the retail operations in Serbia. This increases our capacities and focus on the long-term strengthening of our positions on markets where we are already leaders and that are mainly related to the euro as operational currency.
I would like to thank the employees of these companies for their dedicated work, their contribution to Fortenova Group and their commitment to upholding our common values. The new owner now has the opportunity to take the operations to the next level, and as their partner, we wish them success in doing so” – said Fabris Peruško, Fortenova Group’s Chief Executive Officer and Member of the Board of Directors, commenting on the sale-purchase transaction.
ALTA Retail is an ALTA Group company, which is one of the region’s fastest growing business systems. Through its long-term development and investment strategy ALTA Group has continued to expand its operations and build sustainable growth platforms in various sectors of the economy, relying on their long-term vision, operational excellence and responsible governance. Investing in the retail sector is a significant step in the further diversification of their business and bears witness to their resolve to invest in companies with strong market positions, recognisable brands and significant potential for further development.
“This is a key step in the development of ALTA Retail and one of the greatest business achievements of our company on the Serbian market. We are acquiring companies which have enjoyed consumer confidence for decades, hold strong market positions and have teams whose know-how, commitment and professionalism have managed to build respectable results.
Apart from being an investment in a business system, this is primarily an investment in people and in the development and future of domestic retail. It is our intention to open a new chapter of growth through modernisation, the improvement of processes and innovation, while fully appreciating the identity, value and traditions that the brands Idea, Mercator and Roda have been building on the market for years. We firmly believe that domestic capital should be the driving force in the development of the largest economic systems and in creating new value for employees, partners, local producers and customers. This transaction bears witness to our long-term resolve to invest in Serbia, strengthen the domestic economy and build companies that have the strength of regional leaders”, said Branislava Kosovac, Director of the company ALTA Retail d.o.o.
The transaction will be closed once all the conditions defined in the sale-purchase documentation are met.









Kenty Adria, a Fortenova Group company providing non-food FMCG products procurement and wholesale services, and Hanshow, global leader in store digitalisation solutions, have entered a partnership through which they will start the intensive implementation of electronic shelf labeling (ESL) solutions at Konzum and Mercator stores in Croatia and Slovenia. The goal is to introduce electronic price labels in the networks of both companies, and the project is part of a broader digital transformation process of Fortenova Group’s retail network.
Although the change is visually not pronounced, it is a significant business step forward in retail. Electronic shelf labels (ESL) are digital displays replacing classic paper labels, which make it possible to update prices and product information quickly and in a centralised manner. They provide customers with clear and up-to-date information on the shelves and reduce the need for employees to manually change the prices, thus saving time and reducing the possibility of error.
Konzum and Mercator started implementing electronic shelf labeling two years ago through pilot projects at selected stores. The results of the pilot phase have shown significant advantages of this technology in day-to-day operations, primarily for employees in the stores, for whom electronic labels make it significantly easier to maintain accurate prices on the shelves. Hence, based on the positive results of the pilot projects, 2026 has seen a more intensive implementation of electronic shelf labels, and the partnership with Hanshow will additionally accelerate the process.
For example, at Konzum electronic price labels have been introduced in more than 200 stores so far, and it is planned to implement them in another 260 stores. The largest number, as many as 44,000 electronic shelf labels, have been introduced at Konzum’s Radnička store in Zagreb. Their installation took three days, while the job can typically be completed in two days at larger stores, and smaller stores can be equipped within one day. The majority of Konzum’s retail network, which comprises more than 600 stores across Croatia, will be covered by the end of the 2027 summer season.
At Mercator the digital labels have so far been installed in 50 stores in Slovenia, and the goal is to have electronic shelf labels installed at all stores of the Mercator network by the end of 2027.
It is estimated that approximately 3.1 million digital shelf labels will be required to equip the Mercator network. Given that approximately 1.44 million paper labels are manually changed at the stores on a monthly basis, the comprehensive implementation will result in significant savings. The need for manually changing the prices is reduced, as well as the costs of paper and printing and the possibility of error in labelling. As the digital price labels are connected with the central system, the prices and other information are automatically updated and permanently synchronized with the data in the checkout system.
“We have been introducing digital tools primarily to relieve our employees of operational tasks and make it possible for them to focus on areas where their contribution is the most important. Electronic prices are a good example thereof: technology assumes part of the job which is operationally demanding and repetitive, while employees have more time for direct contact with and support for the customer, which cannot be replaced by technology. This is all part of a broader approach intended to build a more productive and efficient store network”, said Stipan Škoro, Director of the Retail Division at Konzum.
Urban Plestenjak, Director of Retail at Mercator, says that digital price tags are an important step in modernizing our stores and developing a modern sales environment. “We have implemented the project gradually and thoughtfully, making sure that the transition is as easy as possible for both our employees and our customers. The new solution is intended to enable our employees to spend less time on administrative tasks and more time working directly with the customers, as high-quality service remains one of our key strengths”, said Plestenjak.
At Fortenova Group level, the project includes the collaboration among the teams from Konzum, Mercator, mStart and Kenty Adria, which jointly coordinate the technology implementation, IT activities and the procurement and delivery of the required equipment.
„The digitalisation of store processes makes sense for us when it provides concrete benefits both for our employees and our customers. The results of the pilot projects have shown that electronic shelf labels significantly simplify the day-to-day work for our colleagues at the stores, increase the accuracy of prices and reduce the possibility of error. The partnership with Hanshow enables us to implement this technology in a significantly greater number of Konzum and Mercator stores and make another step forward in modernizing the Fortenova Group retail network”, said Ivo Ivančević, President of the Management Board of Kenty Adria, member of Fortenova Group.
The project brings numerous advantages for employees and customers – it enables employees to enjoy a more efficient and simpler work environment, as the saved time can be used for customer support and other important tasks, thus certainly providing the customer – in addition to the updated and reliable price information – with an even better shopping experience.










Fortenova grupa d.d. and six of its companies renewed, and Konzum d.o.o. Sarajevo for the first time received the Employer Partner Certificate for the year 2026.
Fortenova grupa d.d., Idea-CG d.o.o., IDEA Marketi d.o.o., Konzum plus d.o.o., mStart plus d.o.o., Poslovni sistem Mercator d.o.o. and Roto dinamic d.o.o. have this year again renewed the Employer Partner Certificate awarded by SELECTIO Group, the largest domestic consultancy group in the area of human resources. With the successful completion of the evaluation process, Konzum d.o.o. Sarajevo has joined them for the first time this year.
The certificate is based on international standards and makes it possible to compare domestic and global practices and monitor progress in the development of the industry. This is particularly important because businesses on the regional labour market have been faced with numerous challenges in recent years, from labour shortages to organisation structure adjustments, operational optimisation and increased needs for seasonal employment.
Fortenova grupa d.d. and its companies from across the region have proved the maturity and quality of their human resources systems, which is particularly important in light of the fact that the companies comprised within this year’s certification together employ more than 31,000 people and are among the largest employers in the region, with particular significance for the economy.
In the certification process SELECTIO particularly highlighted the consistency in implementing all key HR processes in the Group, the timely communication of organizational changes and the high-quality inter-sectoral collaboration. In their opinion, one of Fortenova Group’s strengths is the systematic encouragement of collaboration among the companies and the continuous exchange of knowledge, experience and good practices, as well as providing employees with the possibility to continue developing their career within other Group companies as well.
“The renewal of the Employer Partner Certificate, as well as the involvement of new companies in the certification process, bear witness to Fortenova Group’s long-term commitment to building sustainable, high-quality and encouraging workplaces and jobs where employees can develop their potential, build their career and contribute to the success of their companies and the whole group in the long term. At the same time, precisely because of their responsibility toward the economic environment, the companies have continued to review and improve their HR systems in order to keep pace with business needs, employee expectations and the requirements of the modern labour market” – said Lara Šubić Šuša, Head of HR Consulting, SELECTIO.
“When such a large number of companies continuously renew the certification and each year another of our companies joins them, this stands as proof that at Group level we have adopted high standards that all members strive to meet, and the Group encourages them to do so. For years we have been developing numerous valuable initiatives focusing on the growth of employees and organisations, and hence we have perceived this year’s recertification as an acknowledgement for the successful continuation of this good practice. Thanks to all our teams that have been committed to work on keeping it up” – said Vlasta Babić Kolar, Fortenova Group’s Director of Human Resources.
The Employer Partner Certificate is the most prestigious regional recognition for excellence in human resources management and it is awarded by the SELECTIO Group, which serves as a one-stop shop for all HR services across the region. The certificate proves the highest quality of management in seven key human resources areas. The certification process evaluates a number of topics, such as recruitment/selection, competence development, leadership, operational success, inclusion and satisfaction, career and succession and rewarding at all organisational levels.




More than 100 representatives of Fortenova Group’s private label suppliers from different markets of the region and different categories attended the training on the Packaging and Packaging Waste Regulation (PPWR), which shall become effective in Croatia already in August 2026.
PPWR has three crucial goals: to reduce the quantity of unnecessary packaging, make sure that all packaging is either recyclable or reusable in an economically sustainable way and to increase the use of secondary raw materials, particularly in plastic packaging. Furthermore, the packaging disposal symbols will have to be uniform at all EU markets. Companies shall be subject to additional obligations under the Regulation in the period from 2027 to 2035, whereof the most shall apply in 2030. For companies that manufacture or place their products on the EU market, this means that they will have to prove that their packaging is recyclable, optimised and in compliance with the rules on recycled content, labelling and waste reduction, which at the same time implies large investments in the adjustment of processes.
Given that the subject matter in question is very complex and affects processes in both production and retail, the Group has recognized the need for a proactive approach to its suppliers in the adjustment process, where the mutual support among the partners is intended to reduce the impact on business processes to the minimum.
Hence, Fortenova Group’s ESG team, in collaboration with its companies Konzum and Mercator and the company Kaligraf as partner, organized a workshop as part of the comprehensive preparations for the application of the Regulation, which have been going on at the Group since 2023.
Namely, given that the Group companies have thousands of SKU’s in their assortment, including private label products and own brands, changes in packaging are expected in almost every product category and suppliers will be required to adjust to them as well.
So far, the Group has conducted an in-depth analysis of the situation in each product category, and changes will primarily take place in the plastic packaging segment, but other types of packaging will be included as well in order to achieve the pursued objective of 100 percent recyclability.
Also, late last year the Group introduced an ESC questionnaire for suppliers in its KYC (Know your Customer) procedure, as part of which it, among other things, verifies the stage of preparations for PPWR compliance.
As part of the comprehensive preparation, Kaligraf – the Group’s long-standing partner in preparing packaging for print – held an online training for suppliers, where during the two-hour workshop everyone had the opportunity to raise specific questions that bother them with regard to the adjustment to the Regulation, and prior to the workshop they also filled out a survey questionnaire where they pointed out the major unknowns and challenges in the process, and the content of the presentation was then adjusted thereto.
The Group companies and suppliers recognized the greatest challenge in the implementation of the Regulation in the various models of deposit refund schemes, infrastructure and local rules at the member states, and additional complexity is expected in the collaboration with third country suppliers that are not always directly affected by the same regulatory framework.
The Group will therefore continue to monitor suppliers in the adjustment process, organise additional training when needed and share best practices.






Precisely 3,581 cars less on the roads in one year, water savings of more than 11 million five-minute showers or energy for 32 thousand light bulbs – these are the equivalents of the total savings that Fortenova Group’s retail companies made by using eLog RPC reusable plastic packaging in its operations in 2025.
The packagings in question are collapsible boxes for the transportation of fruit and vegetables, meat and eggs, by the use of which Konzum HR, Konzum BiH, Mercator, Idea Marketi, PIK Vrbovec and Arivera Fruit have actively taken part in circular economy and contributed to the fresh food supply chain sustainability.
There are many positive effects of that model – no new raw materials need to be used to produce disposable packaging and thus no new waste is created and there is no need for its disposal later. Over the period of five years of using reusable packaging at Fortenova Group companies a significant aggregate amount of positive effects on the food management chain has been “collected”, along with an equally significant trend of growing savings, which have at least doubled in all elements of the calculation.
For example, over the period of five years, more than 41 thousand tonnes of waste have been prevented in total, with 4.9 tonnes of waste prevented at the beginning of the period, in 2021, while in 2025 the quantities grew to more than 11 thousand tonnes.
By using this type of packaging a higher utilisation of transportation units is achieved, too, which contributes to the reduction of total greenhouse gas emissions. Hence, only through that segment of its operations Fortenova Group reduced CO2 emissions by almost five thousand tonnes in one year, and over the course of five years by a total of almost 18.5 tonnes of CO2.
A significant feature of using this packaging is the reduced possibility of damaging the products during transport, with more than 480 tonnes of products, or quantities sufficient for the preparation of more than 800 thousand average meals, thus “preserved” at Fortenova Group in 2025. Over the course of five years that number has reached almost three million average meals. The ergonomic design and the low weight of the packaging, on the other hand, “preserve” the employees as the packaging is easier to carry, thus preventing potential injuries, and consequently also the loss of productivity.
“We are pleased to say that through the long-standing cooperation with Fortenova Group we have supported more sustainable practices in the supply chain. The numbers we see today are the result of a partnership based on trust and they demonstrate that reusable packaging can provide measurable benefits in day-to-day logistics. Our past cooperation constitutes a strong foundation for future projects. In the forthcoming period we see a great potential for extending the reusable packaging pooling model to the categories of bakery and frozen products, and we have been actively discussing that with our partners. Apart from that, we have continuously been developing and testing new logistic tools that can help improve efficiency across the supply chain. With the development of such new tools and the extension of reusable packaging to new product categories we have supported our partners in improving relevant operational and ESG performance indicators. Besides that, by joining the IFCO Group, eLog has gained access to international know-how, innovation and best practices at global level, and the combination of local experience and global knowledge creates a powerful platform that provides our partners with key competitive advantages through efficient reusable packaging solutions in the fresh food supply chain”, said Marko Maloča, CEO of the company eLog.
„When we started this cooperation five years ago, we have laid the foundation for a significant positive step forward towards environment protection. These impressive results not only constitute an added value to our business, but clearly prove that strategic partnerships can achieve goals that are of great importance for the broader community. Reusable packaging, although seemingly just an operational adjustment, is a key mechanism to be used in extending sustainable practices and reducing our carbon footprint. It is Fortenova Group’s strategic vision to integrate maximum efficiency and rational resource management in each segment of our operations. For years we have systematically been building a model of sustainable economic activities and have transparently, through our Sustainability Report, communicated our contribution to the green transition of the entire economy, where partnerships like this one with eLog are the key driver of that process” – said Fabris Peruško, Fortenova Group’s Chief Executive Officer and Member of the Board of Directors, commenting on the results.
The calculations of environmental savings made by using eLog RPC packaging are based on the Fraunhofer IBP’s peer-reviewed LCA study according to the ISO 14040/14044 standard, while savings in food waste are based on a Fraunhofer Institute survey.



Following the receipt of all required approvals from the competent regulatory authorities, the process whereby the company Dijamant changes ownership from Fortenova Group to MK Group was formally closed.
Thereby a major acquisition has been realized in the food and agriculture sector, the further development and strengthening whereof is in the common interest of the entire region.
Thanks to major investments made by Fortenova Group over the last several years, today Dijamant is a highly competitive company and one of the technologically most advanced in the industry, with doubled capacities and excellent brands. Given its great innovation and personnel potential, the company thus has an outstanding basis for the development activities planned by the new owner.
Fortenova Group would like to thank MK Group for the professional cooperation over the course of the transaction process and wishes them a lot of success going forward.

Fortenova Group and Badel 1862 signed on 2nd June 2026 an Exclusivity Agreement for the negotiation of the sale-purchase of companies from the so-called Beverage Group.
Following the completion of the competitive process in which several parties took part, Fortenova Group decided to continue the negotiations exclusively with the company Badel 1862 d.d.
The negotiations will cover the acquisition of shares in the companies Jamnica plus d.o.o. (Croatia), MG Mivela d.o.o.(Serbia), Sarajevski Kiseljak d.o.o. (B&H) and Jamnica d.o.o Ljubljana (Slovenia).
The contracting parties will commence intensive negotiations about all details of the transaction in good faith. The exclusivity period will last until 30th September 2026, when the negotiations are envisaged to end.
The companies will inform the public about any relevant developments in a timely manner.





Following the recent acceptance by Fortenova Group of BOSQAR INVEST’s binding offer for the acquisition of PIK Vrbovec, the two companies have now signed an Agreement whereby BOSQAR INVEST shall acquire 100 percent of shares in the company PIK Vrbovec plus d.o.o., owned by Fortenova Group.
This marks the conclusion of negotiations on the acquisition, which was an important step in the transaction the formal completion whereof will follow once BOSQAR realises the planned financing and upon obtainment of all the required regulatory approvals. Given the structure of the transaction, the price shall be finally established at completion.
PIK Vrbovec is Croatia’s largest producer of fresh and processed meat and a large exporter to around 20 markets, holding the export number HR 10 which makes it possible to export to the world’s most demanding markets. The company boasts the most modern primary meat processing facility (slaughterhouse) in the region as well as meat processing facilities and directly cooperates with over 100 local farms and the farms of Belje, which makes it the largest domestic pork processing industry. Traceability is guaranteed at all phases of production, with the highest technological, IT and hygiene standards applied, and all processes are continuously being monitored by experts.
PIK products bear the designations of highest consumer trust, such as the No. 1 Ham designation, as well as the official designations Proven Quality Croatia and Meat from Croatian Farms, and in Croatia the company is also protected by patent for its production of meat products without added phosphates. It currently employs around 1500 workers and has over the last few years undergone transformation into a profitable company with high development potential.
Due to PIK’s pivotal role in the national agriculture and food industry ecosystem, its acquisition is an important step in BOSQAR INVEST’s intention to build a strong food platform in Central and Southeast Europe through the ownership of several significant companies in the food sector.



By signing the Share Transfer Agreement today, Fortenova grupa d.d. and Žito d.d. formally closed the process whereby Zvijezda plus and Zvijezda Slovenia have been transferred to the ownership of Žito Group.
With the transaction in question the company Žito d.d. has become the owner of 100 % of shares in the companies Zvijezda plus d.o.o. and Zvijezda Podjetje za notranjo in zunanjo trgovino, d.o.o., Ljubljana.
Following the approval of the concentration by all regulatory authorities, the signing of the Agreement marked the realisation of one of the most significant transactions in the regional food industry.
The sale-purchase price defined in the Agreement amounts to EUR 94.06 million, and in accordance with the agreed pricing mechanism additional corrections of the sale-purchase price are possible in the forthcoming period.
Upon inclusion of the financial assets and liabilities of the acquired companies the transaction value amounts to EUR 115.72 million.
Žito d.d. has secured the funds for the transaction with a business bank loan in the amount of EUR 90 million and own funds.
The sale-purchase of Zvijezda, one of Croatia’s oldest production companies, was realised making sure that the ownership remains with a domestic company whose goal it is to further develop the strategically important food sector. The company, which plays a significant role in the food supply and which is important for the development of the domestic agriculture industry, now has the opportunity to additionally strengthen its position and extend its product portfolio and production capacities.
In particular, with the acquisition of Zvijezda in Croatia and Slovenia Žito Group has got three strong regional brands: Zvijezda, Margo and Omegol, among which Zvijezda edible oil and mayonnaise have for many years been positioned as the number one brand on the Croatian market, with high market shares on other markets of the region, too. The synergy between the Žito Group’s existing production facilities and Zvijezda will contribute to even greater efficiency, innovation and market competitiveness.
The industrial production at the Žito Group is vertically integrated with its crop and livestock production. The industrial group consists of Mesna industrija DOBRO (meat industry), Tvornica ulja Čepin (edible oil production), Tvornica stočne hrane Vitalka (animal feed production), a seed processing plant and an electricity production facility. It is important note that Žito is the largest egg producer, the second largest agricultural land tilling company and the second largest pig production in Croatia.
“Zvijezda is one of the most recognizable food brands in the region and we are proud to open a new development chapter within the Žito Group for the company today. For us this transaction marks the further strengthening of our food industry, production capacities and regional presence, and we are certain that our common know-how, experience and production potential will create added value for our consumers, employees and partners. We wish all Zvijezda employees welcome to our business family”, said Marko Pipunić, President of the Management Board of the Žito Group.
“I am sure that with this deal both Groups have made the right choice for their development, because we have not only opened new stages in our own development, but in the mutual partnership as well. On the one side, at Fortenova Group we have the leading regional retail network, and on the other side there is a large regional food production. The mutual support in business is a strong development driver for both Groups. I would like to take this opportunity to thank all Zvijezda employees for their exceptional contribution made at Fortenova Group. I am convinced that they will continue with the same level of dedication in the new environment as well. I would also like to thank everyone who worked hard over the course of the last year to bring the realisation of this process to a closing”, said Fabris Peruško, Fortenova Group’s Chief Executive Officer and Member of the Board of Directors.
The Management Board of Zvijezda shall continue to run the company, and its Supervisory Board has seen the appointments of Jozo Ljubičić, Member of the Management Board of Žito Group in charge of finance, accounting and strategic operations like M&A, and Josip Bičvić, Member of the Management Board of Žito Group in charge of industry and trade.