November 16 (SeeNews) - Croatian distributor of fast-moving consumer goods Atlantic Grupa [ZSE:ATGR] said on Friday it has singed a deal to sell the Mirna plant in Slovenia to the Poll family, the owner of Austrian company Gittis Naturprodukte.
“This marked a successful completion of the process initiated with Atlantic’s sale of the baby food brand Bebi to the Serbian company Nelt Grupa last year, as well as a continuation of the process of disinvesting non-core business operations in line with Atlantic’s corporate strategy,” Atlantic said in a filing to the Zagreb bourse. It did not elaborate on the value of the deal.
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The plant in Mirna has been the production site for baby food products Bebi, which has been marketed in Russia and the other countries of the Commonwealth of Independent States for more than 35 years.
After the sale of Bebi to Nelt Grupa, the Mirna plant remained part of Atlantic as Nelt has its own capacities and expertise in the segment of baby food production. The factory continued with service production of the Bebi cereal product.
Gittis was set up in 1957 as its core business is baby food, cereal and bar production.
“Our new strategic partner plans full activation of the Mirna production plant in the long term, as well as investments in its further technological development and its employees,” Atlantic said in the filing.
Atlantic’s shares traded at 1,570 kuna ($ 238/209 euro) on the Zagreb bourse intraday on Tuesday, down 0.63% compared to the previous closing price.
(1 euro=7.511 Croatian kuna)