MK Group has finalized the process of the purchase of 67% of the shares of Victoria Group, one of the largest agribusiness companies in Serbia. With the integration of Victoria Group's member-companies Sojaprotein, Victoria Oil, Victoria Logistic, Luka Backa Palanka and VZS Stocna Hrana, MK Group has acquired the status of the majority owner, whereas shareholders Milija Babovic and the company Apsara Limited remain minority owners.
The financial director of MK Group, Andrija Vukovic, pointed out that the experience, the stability of the business operations and the strategic orientation of MK Group toward the implementation of the latest trends in agriculture would contribute to the further strengthening and growth of Victoria Group. He was open about being satisfied that the company whose soy and sunflower products are exported to over 60 countries of the world had become part of a successful company like MK Group.
– I am proud of the management of MK Group and the energy they invested in the complicated acquisition process. We are aware of the importance of the synergy of the capacities and the experiences of MK Group and Victoria Group and we are looking forward to future business endeavors. We will remain a reliable partner to Serbian agriculturists, ready to invest the knowledge and the resources in order to secure the selling of domestic products in world markets – Andrija Vujovic said.
The CEO of Victoria Group, Stefan Babovic, emphasized that the integration of the company into MK Group could only benefit the employees and the agricultural sector in Serbia and beyond.
– We are continuing our cooperation with the partners and the subcontractors. I am extremely glad that the acquisition process is over and that we will be able to concentrate on perfecting the business performances in the upcoming period, with great help from a regional leader like MK Group – Babovic said.
Victoria Group cooperates with over 300 agricultural cooperatives and 40,000 agriculturists, and its soy and sunflower products can be found in over 60 countries worldwide, 80% of which ends up in the EU market.
With 35 years of operations in the agrarian sector behind it, MK Group has grown into the largest vertically integrated company in this sector in Serbia and one of the largest in this part of Southeast Europe. It works on 20,000 hectares in the country and is also the biggest exporter of grains from Serbia.
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