Croatian beverages company Badel 1862 has issued a public invitation for investors interested in a strategic tie-up and capital increase.
The purpose of the initiative, part of the company's pre-bankruptcy proceedings, is to provide sustainability of continuing business operations and implement measures of operational and financial restructuring.
All interested bidders have until May 18 to submit their offers, which should include a five-year business plan with a commitment for a capital increase of at least HRK 150 million (€19.6 million).
Badel 1862 is a wines, alcoholic beverages and soft drinks producer, majority owned by the Croatian state (67.68 per cent of share capital). Last year, the company posted a loss of HRK 65 million (€8.5 million), on total revenues of HRK 347 million (€45 million).
Last year, the company conducted an unsuccessful search for a strategic partner, rejecting the only bid submitted by local company Princeps Promet.
The product range of Badel 1862 includes brandies, gins, liqueurs, rums, tequila, vodka and whiskey, as well as table wines, white, red and rose wines, special wines and soda drinks, non-soda drinks, iced teas, syrups, juices and nectars. Its brand portfolio is comprised of Badel Pelinkovac, Badel Lavov, Badel Stara Sljivovica, Vigor, Glembay, Zrinski, Nara, Inka, Vocko, Frikste, Bono and others.
The company also distributes soft drinks of such brands as Pepsi Cola, Mirinda and 7 Up.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic
