Croatian food and retail consortium Agrokor has announced that it has renamed its subsidiary companies as part of an overall repositioning of the group.
The parent company Agrokor d.d. will also receive a new name by the end of January.
Preserving Brand Value
Konzum has been rebranded Konzum plus, Jamnica as Jamnica plus, Zvijezda as Zvijezda plus, and Ledo as Ledo plus.
The old names have been retained in the names of the new companies to preserve their brand value in the market.
The companies will start their operations once the implementation of the settlement plan between Agrokor's creditors is completed.
The changes are part of the implementation process of the settlement plan, which is due to be completed by the end of Q1 2019.
Good Business Performance
Meanwhile, the company has reported a good business performance in all the major operating companies.
In the period between January 2018 to October 2018, Agrokor's companies generated total revenues of HRK 20 billion (€2.7 billion), while operating profits reached HRK 1.7 billion (€229 million).
The operating profits of companies from the food sector outperformed the budget by almost HRK 70 million, while the operating profits of retail and wholesale companies exceeded the budget by HRK 28.7 million.
In this period, the Croatian supermarket chain generated nearly HRK 430 million in operating profits, outperforming expectations by as much as 50%.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.