Serbia's Competition Protection Commission (KZK) has issued approval for Croatian multinational Atlantic Group to formally take over Serbian food producer Foodland.
The takeover will be conducted by Belgrade-based Soko Štark, a wholly-owned confectionary unit of Atlantic Group.
In its ruling, the Antitrust stated that the concentration, resulting from the merger of the two food companies, “does not lead to a significant prevention, restriction or distortion of competition on the Serbian national market, or its part, and in particular to the creation or strengthening of a dominant position”.
The Commission made its assessment on the basis of the analysis of the market of production and sales of products from peppers (chutney, preserves, etc.); the market of production and sale of jams and other fruit spreads and the market of production and sale of sweet and fruit juices and syrups.
Last November, Atlantic Group signed a contract for the takeover of 100 per cent of Foodland, based in Belgrade and with manufacturing facilities in the Kopaonik Mountain region. Foodland produces preserves, jams, fruit spreads, juices, ketchup and vegetable relishes and is best known for its premium brand "Grandma's Secret”.
About a third of the total production is exported to markets outside the Balkans region (Western Europe, USA, Australia, Russia, and Japan).
Atlantic Group, based in Zagreb (Croatia), is active and present in more than 30 markets around the world. Its main activities include production of food and beverages and distribution of consumer goods. In addition to Soko Štark, in Serbia the group also owns the companies Grand Prom, Palana?ki Kiseljak and Multivita.
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