Croatia's Atlantic Grupa plans to invest EUR 5mn in Serbia, eyes acquisitions.

By bne IntelliNews October 23, 2012
Croatian consumer goods producer and distributor Atlantic Grupa plans to invest EUR 5mn in Serbia in 2013, Banka Magazine daily informed, quoting the group's management board head Emil Tedeschi as saying. The company will invest in modernising its existing facilities in Serbia and will also look for possible takeovers, Tedeschi said without naming the acquisition targets but stressing that there is a significant consolidation and expansion in the food industry, where Atlantic Grupa plays an active role. Atlantic Grupa owns three companies in Serbia - coffee maker Grand Kafa, sweets maker Soko Stark and mineral water bottler Palanacki Kiseljak. Atlantic Grupa posted a non-consolidated net loss of HRK 22.8mn (EUR 3mn) in the first half of the year, up by a significant 69% on the year. The main factor for the worsening financial result was total non-consolidated expenditures, which went up by 17.7% on the year to HRK 51.9mn. Total non-consolidated revenues amounted to HRK 30.8mn in H1, up by 0.4% on the year. Atlantic Grupa is a multinational company whose business activities comprise the production, development, sale and distribution of fast moving consumer goods in the former Yugoslavia countries, as well as in Western Europe. It is also an owner of a leading pharmacies chain in Croatia.
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