Atlantic and Adris Group announce new acquisitions

Somewhat obscured by the publication of business results which started last week, two important announcements were made in the Croatian business sector. Two big players in the Croatian market, Adris Group and Atlantic Group, have announced acquisitions.

Atlantic Group says that they are looking into several companies, but that a strategic decision has not yet been made. They also announce that it will certainly be a large, transformational acquisition, and it is realistic to expect for it to take place in 2019. Their financial standing, they say, is excellent and their debts fall below the industry average, both of which are important requirements for an acquisition.

It is known that Atlantic has indicated on several occasions that they are interested in Podravka, but the latter has not reacted well to these announcements.

Likewise, there have been announcements of interest in certain companies within Agrokor. The last big acquisition made by Atlantic was Droga Kolinska in 2010.

After realizing very good results in the first nine months of 2018, Adris Group reveals that it is planning to expand. They plan investments of HRK 4 billion in the next four years, especially in their tourism business, in which HRK 3.3 billion is to be put. Following that cycle, as much as 95% of their hotel capacities will be at the top level. Nearly HRK 360 million is to be invested in the production of health food and HRK 230 million will be invested in insurance development.

– Adris is operating successfully. Our business is growing and is sustainable in the long term. Our ambitions remain high and we are investing. In the past eight years, we have invested HRK 7 billion. We are increasing the competitiveness and exporting. We are extremely focused on organic growth and business excellence and we are ready for new acquisitions – said the chairman of the Management of Adris Group, Ante Vlahovic.

It is known that Adris has run into an obstacle in Slovenia, where it is the majority owner in Sava Re. It remains to be seen whether the acquisition will take place in the insurance or the tourism sector.

Atlantic group Zagreb

ADRIS Grupa d.d. Rovinj

Atlantic Brands Beograd

Fortenova grupa d.d.

Atlantic Group acquisitions

Adris Group acquisitions

Ante Vlahovic

Sava Ra

Droga Kolinska