Čakovečki mlinovi Increase Ownership Stake in Zagrebačke pekarne Klara

The Assembly of Čakovečki mlinovi approved yesterday the contract for the transfer of the bakery business unit from that company to Zagrebačke pekarne Klara. The contract was signed by the two companies on May 22 of this year.

According to a notice on the Zagreb Stock Exchange, the transfer of the bakery business unit involves the transfer of assets, receivables, rights, and obligations established as of December 31, 2024, in such a way that the subject business unit is entered into the share capital of the acquiring company (Klara) at market value. Through this transaction, Čakovečki mlinovi will acquire shares in Zagrebačke pekarne Klara.

Lider reported back in June that at the beginning of February this year, the share capital of Čakovečki mlinovi was increased when the Plodinec family transferred 100% ownership of NewMip and 61.55% ownership stakes in Zagrebačke pekarne Klara to them. This increase in share capital fundamentally changed the ownership structure of Čakovečki mlinovi. Until then, MIP had a minority ownership stake (31.18%), while two pension fund management companies together held 58.56%. After that, MIP became the majority owner with a stake of 51.84%, while the funds collectively fell to 37.63%.

The stake of Čakovečki mlinovi in Zagrebačke pekarne Klara before the Assembly meeting was 89.54%, but it is unknown what the stake will be after the approval of the contract for the transfer of the bakery business unit. However, as reported by Lider, the intention of the owners of Čakovečki mlinovi is to increase their stake in Zagrebačke pekarne Klara to 95% and subsequently carry out a squeeze-out procedure for minority shareholders and withdraw that company from the Zagreb Stock Exchange. The recent approval of the contract for the transfer of the bakery business unit represents an additional step towards that goal, and perhaps even a final one.

Additionally, several other decisions were made at the Assembly meeting, the most important being the one regarding the payment of a dividend totaling €8 million, which comes from part of the net profit earned last year, representing an amount of €0.50 per share. The dividend will be paid on September 18, 2025, and shareholders who are registered as of August 27, 2025, will have the right to payment, while the company’s shares will be traded without the right to dividend payment from August 26, 2025.

The company Čakovečki mlinovi achieved a net profit of €8,617,075.46 last year, and besides the largest part allocated for dividend payment, the Assembly decided to allocate a smaller part – €607,075.46 – to retained earnings.