Major Croatian bottled water and soft drinks company is now in foreign ownership.
Radenska, part of the Kofola ČeskoSlovensko Group, one of Europe's leading manufacturers and distributors of non-alcoholic beverages, has successfully finalized the acquisition of Studenac, a company which manufactures traditional Croatian brand of mineral water, and took over 100 percent stake in the company, reports Poslovni.hr on December 20, 2016.
The portfolio of Radenska has therefore been expanded with Studenac natural mineral water, Studena natural spring water, and Lero juices. This acquisition has further strengthened the position of both Radenska and the entire Kofola ČeskoSlovensko Group in the Adriatic region.
Radenska and Podravka signed the agreement on the sale of Studenac on 20 September 2016. However, the contract contained a number of conditions that had to be fulfilled before the transfer of ownership. Now, all the conditions have been met, and Radenska has taken over the 100 percent share of Studenac, which is now officially a member of the Kofola Group.
After the conclusion of the transaction, Marian Šefčovič, general manager of Radenska, expressed his satisfaction with the acquisition, stressing how important it was to strengthen the market position of Radenska in Croatia and the wider region. “We will do what is best for Studenac, because we love local brands and their history. However, Studenac needs to improve its business operations, and this is something in which we are the best. Our intention is to make the company even more successful. We will use all the elements of synergies that were detected during the process of merger. We have a very good local team with extensive knowledge of the region, as well as local and regional management which is in charge of the management for the entire Adriatic region. They have already started working on the development of Studenac. Podravka has transferred all employees to Studenac, and we will keep them so that manufacturing plant would continue with its operations”, said Šefčovič.
Kofola ČeskoSlovensko is one of Europe's leading manufacturers of soft drinks, with seven manufacturing plants and 2,100 employees in Slovakia, the Czech Republic, Slovenia, Croatia and Poland. Kofola is known for its positive attitude and respect for local brands and local cultures, and has breathed new life into many brands of soft drinks and alcoholic beverages in these countries.
