Agrokor and Belgian Ardo Buy Vinka Company for 400 Million Kuna

Total Croatia News

This deal gives the producer from Vinkovci a lead in production of frozen fruits and vegetables in Eastern Europe

A joint venture was signed on Wednesday between Croatian Agrokor and Belgian Ardo Group, in the presence of many distinguished guests. This deal expands Ardo’s trade development in Eastern and Central Europe, securing a strong production base with a respectable local partner, reports on June 8, 2016.

Bernard Haspeslagh, operations CEO of Ardo Group said “the agronomy potential of Agrokor on one hand and Ardo’s industrial knowledge on the other will create a leading production in Eastern Europe. We believe in the strong agriculture potential of the Danube valley. A combination of production of two factories – Vinka and the existing Ardo Austrian plant in this fertile valley, will create a complementary assortment for the eastern European market.”

“For us this is an important and exciting day. Our primary interest was to introduce to you the Ardo company and present how big producers in Europe act. Agrokor has many partners, we deal with the greatest, but this partnership with Ardo is of special importance,” Ivica Todorić said.

“Our goal is for this Vinkovci industry to become the largest frozen food industry in Europe. For us, for Croatia and this region means a huge new production on thousands of acres bringing larger profit than in traditional farming cultures. This will bring strong export from Croatia and market branding of Croatia as a country capable of making export products. We will create new value, new jobs and new income for the national budget,” he added.

“Agrokor has already invested 200 million Kuna in Vinka, restructured the company financially and in business terms. Our strategic partner will help increase production from 15,000 to 60,000 tonnes. Together we will increase production and employment with over 100 new jobs. The entire production increase is aimed at export to 60 markets where Ardo is present. This is a great opportunity for domestic production and our subcontractors, whose numbers we plan to raise from 80 to 300,” explained Todorić.


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