One of Croatia's largest food producers, Prodravka, has signed a memorandum of understanding to acquire a subsidiary of retailer Agrokor.
According to local media outlet Poslovni dnevnik, Podravka look set to buy all of the assets belonging to PIK Vrbovec, a canned meats producer based in Danica which is owned by Agrokor.
"This arrangement should certainly be considered in the context of the consolidation of the domestic food industry. These are two leading companies which are aligned to the categories in which they want to keep or win a leading position in the market," said Podrovka CEO Zvonimir Mrsic.
Both Mrsic and PIK Vrbovec CEO Ljerka Puljic say that the deal covers the "transfer of trademarks, recipes and equipment and on acquiring the business of production and sales of canned meat pates and canned meat products".
No financial details regarding the deal, or a statement from Agrokor, have been disclosed.
Image: PIK Vrbovec CEO Ljerka Puljic and Prodravka CEO Zvonimir Mrsic.
© 2014 - European Supermarket Magazine by Enda Dowling
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