Croatia’s Adria Snack Company (ASC) has achieved a turnover of over HRK 131 million (€17.4 million) during its first year of operations.
The joint venture, set up last year between Croatian company Franck and leading European snack producer Intersnack, confirmed its leadership position in Croatia and saw growth in all five markets the Adria region.
In Bosnia and Herzegovina, ASC placed second with its Čipi Čips brand, while in Kosovo Chio Chips firmly hold the number one position. In its home market, ASC has 20% of the snacks market thanks to a highly developed range of brands that are well positioned for further growth and expansion.
Čipi Čips, Tip Top, Franck peanuts and popcorn all recorded double-digit growth this year.
Total investments in 2016 amounted to HRK 7 million, mostly for the upgrading of the production facilities and capacity at the Hercegovac factory.
According to ASC CEO, Dubravko Folnović, over HRK 11 million will be additionally invested in the next two years to further increase production capacity.
The snacks market in the Adria region grew by 2.1% over the past two years and the trend is expected to continue.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.