This marks the end of the process that began in February 2005, when the companies signed a strategic partnership agreement
The Slovenian food company Droga Kolinska completed the acquisition of Grand Prom, the biggest coffee producer in Serbia-Montenegro, on Friday, 16 September. This marks the end of the process that began in February 2005, when the companies signed a strategic partnership agreement.
The EUR 52.5m investment (EUR 45.5m paid in cash and EUR 7m in shares) gives Droga Kolinska a 75% stake in the Serbian company, Droga Kolinska said on Friday, 16 September.
The Slovenian and Serbian companies also agreed on Droga's ownership of a 75% stake in the Soko Stark sweets company, which had recently been acquired by Grand Prom.
Grand Prom will take over all of Droga Kolinska activities in Serbia-Montenegro, Bosnia-Herzegovina and Macedonia.
Its chairman Slobodan Vucicevic, apart from becoming one of the major Droga Kolinska shareholders, will be named head of Droga Kolinska operations in SE Europe.
Source: Slovene Press Agency STA