Atlantic Grupa announced today that it has successfully completed the acquisition of Droga Kolinska, by paying the previous owner Istrabenz a cash amount of 243.1 million euros.
According to the contract signed on July 1 of this year, the total value of the transaction amounts to 382 million euros, Atlantic Grupa assumed the net debt of Droga Kolinska as of the closing date of the transaction, and Istrabenz was paid a cash amount of 243.1 million euros, the statement said. Upon payment of the total purchase price, Atlantic Grupa became the owner of Droga Kolinska, which will be fully integrated into the Atlantic Grupa system, and Srećko Nakić, the former Vice President of Atlantic Grupa for the Distribution division, will take over as CEO of Droga Kolinska. After the merger, Atlantic Grupa becomes one of the largest companies in the food industry in the region, with 640 million euros in consolidated revenue, 4,300 employees, and its own companies in 12 markets in the region, Western Europe, and the countries of the former Soviet Union.
Srećko Nakić, the new CEO of Droga Kolinska, stated that Atlantic Grupa and Droga Kolinska are natural partners, which certainly facilitates the integration work ahead. In Droga Kolinska, we recognized valuable brands, market positions, and opportunities, but above all, quality and valuable people, he said. The CEO of Atlantic Grupa, Emil Tedeschi, emphasizes that there is a clear economic logic behind this transaction, as it concerns the compatibility of the two companies in activities, product portfolios, and markets. The acquisition of Droga Kolinska by Atlantic Grupa was financed through the company’s own funds and those of its shareholders (45 percent of the amount), a mezzanine arrangement with the European Bank for Reconstruction and Development (10 percent), and credit lines from Raiffeisen and Unicredit Group (45 percent). Atlantic reminds that in July, with the aim of raising part of the funds for financing the acquisition, a successful recapitalization of Atlantic Grupa was carried out, through which the company raised 83 million euros and welcomed EBRD as a new shareholder of the company. In the ownership structure of Atlantic Grupa, the largest share today belongs to the CEO of Atlantic Grupa, Emil Tedeschi, with 50.2 percent, followed by EBRD and the German development bank DEG as the second and third largest shareholders with shares of 8.53 and 8.49 percent, respectively. (H)
