ZAGREB (Croatia), June 28 (SeeNews) – Croatian consumer goods retailer Atlantic Grupa [ZSE:ATGR] announced on Tuesday that it had signed an agreement with Serbian company Vik Pro Univerzal to sell its Palanacki Kiseljak production site to Smederevska Palanka in central Serbia.
“The object of the sale and purchase is the entire production site with all its assets, including Karadjordje, a traditional mineral water brand on the Serbian market. The new owner should also take over the employees of Palanacki Kiseljak,” Atlantic said in a Zagreb stock exchange filing.
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He did not disclose the value of the deal.
Atlantic Grupa mainly produces and bottles Cockta brand products on site and will continue these activities as a service.
Belgrade-based strategic buyer Vik Pro Univerzal has experience mainly in the water and soft drinks business. However, he has ambitions to develop Palanacki Kiseljak and his long-term employees, according to the statement.
The sale of this production site is part of a process of divestment from non-strategic small businesses, in line with Atlantic’s business strategy.
Shares of Atlantic Grupa traded at 1,590 kuna (223/211 euros) intraday on Tuesday on the Zagreb stock exchange.
(1 euro = 7.531 Croatian kuna)