News

Atlantic Grupa takes over Strauss Adriatic

Wednesday, 24. Maj 2023.

Atlantic Grupa submitted a binding offer for the purchase of Strauss Adriatic, which Strauss Group officially accepted, according to a statement from the company. The conclusion of the transaction is subject to the prior approval by the Commission for the Protection of Competition of the Republic of Serbia.

The binding offer is based on the total value of the transaction ("enterprise value") in the amount of EUR 40.5 million, without debt and cash, and assuming a regular level of normalized net working capital on the day of the transaction.

Strauss is known for its renown coffee brands on the Serbian market - Doncafe and C coffee, which would join the regional leaders Grand coffee and Barcaffe through the acquisition. Along with well-known brands, Atlantic would also take over a modern production facility in the Simanovci industrial zone near Belgrade, as well as its 220 employees.

- Atlantic Grupa is the largest producer of coffee in the Southeast Europe region and a leader in the development, and this acquisition is completely in line with the strategic determination to strengthen our core business. Upon the Commissions approval, it will be my pleasure to welcome Doncafe, C coffee and the esteemed colleagues into our system - the vice president of Atlantic Grupa for the strategic areas of Coffee, Sweets and Salt, Mate Stetic, commented on the occasion.

Atlantic Grupa intends to invest significantly in the development of the coffee business, in the production and development of brands and technology, their product portfolio and communication, in the retail and HoReCa segments. The development of key product categories (coffee, chocolate and sweet and salty snacks, delicatessen spreads and soft drinks), organically and through acquisitions of strong brands in those categories, are the foundation of the companys development strategy. The latest acquisition is an important step to accomplishment of the strategy, a contribution to the growth of the coffee business in Serbia and the region, as well as bolstering the competitiveness of the regional coffee industry and local brands.


Source: eKapija

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