Enhancing resilience of the Croatian Agribusiness

Congratulations to Podravka for the successful acquisition of Fortenova Group's agricultural division, which includes Belje plus, PIK-Vinkovci plus, Vupik plus, Energija Gradec, Belje Agro-Vet plus and Felix plus which represents a landmark M&A agribusiness transaction in the Central and South East Europe. Podravka Agri, a new subsidiary of Podravka Group, will manage the newly acquired agricultural segment, with the acquired companies continuing to operate as independent entities.

We are proud that Privredna banka Zagreb d.d. (PBZ), part of International Banks Division of Intesa Sanpaolo supported the Transaction both as the exclusive Buy Side Advisor and the Mandated Leader Arranger (MLA), Coordinator, Agent and the Lender for the 3 year Long Term Club Loan of EUR 283 million, which included participation of Erste&Steiermärkische bank d.d., Zagrebačka banka d.d.  and OTP banka d.d.

The European Bank for Reconstruction and Development (EBRD) also endorsed the transaction with an equity investment worth EUR 50 million in Podravka Agri.

The Transaction is of the strategic importance for the Croatia's food sustainability, climate resilience and the country's competitiveness in the food sector, creating a strong food group with consolidated revenues more than EUR 1 billion.

The Transaction is fully aligned with the PBZ's strategy to support the leading Croatian corporates with combined financing and M&A advisory services in the expansion of their operations that contribute to enhancement of the competitiveness and climate resilience of both corporates and the national economy.

Photo: Fabris Peruško, CEO of Fortenova Group; Martina Dalić, President of the Management Board of Podravka; Vedrana Jelušić Kašić, member of the Management Board of PBZ and Dinko Lucić, President of the Management Board of PBZ