After the agreement was reached on the sale of a share of Slovenian Istrabenz holding - Droga Kolinska, to Croatian Atlantic Group, consolidation of the ownership in dependent companies has started as well.
Grand Kafa, which is 100% owned by Droga Kolinska, has announced the intention for takeover of the remaining shares in the companies operating in the domestic market - water bottling factory Palanacki Kiseljak and confectioner Soko Stark.
Grand Kafa intends to take over remaining 5.86%
of Stark's shares, which are in the possession of minor shareholders, as well as 21.6% of shares of Palanacki Kiseljak.
Stark is the second largest confectioner in Serbia with the revenue of 5.8 billion dinars in 2009, while Palanacki Kiseljak is the eighth largest mineral water bottling factory with the market share of about 1.4%.
As the media announced in July, Atlantic Group paid 382 million euros for Droga Kolinska and, thus, became one of the largest food companies in the region with the annual revenue of over 600 million euros and strong brands such as Cedevita, Argeta, Barcaffe, Grand Kafa, Cockta, Smoki and Multipower.
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