Bank Debts See Franck Sell Popular Čipi Čips for 12 Million Euro

Franck’s popular crisps fall victim to the bank.

As Poslovni Dnevnik writes on the 28th of July, 2018, Franck established the crisp factory which produces the popular crisp brand with Intersnack, to whom it has now sold its share in the company.

Franck has sold its stake in the Adria Snack Company crisp factory to Holland’s Intersnack, paying its debts to Privredna banka Zagreb with the money from that transaction.

Speculation states that Franck’s share in the company, which is best known primarily for its popular coffee and tea production, stands at about 12 million euro, according to Večernji list.

Franck and the new owner of the popular brand, Intersnack, which is otherwise considered to be the largest European snack manufacturer, initially established the crisp factory with equal shares of capital, the Zagreb company has now left its now former share to the Dutch owners of the other half.

To briefly recall, Franck was one of the companies with the highest vulnerability and exposure to regressive bills of exchange during the Agrokor crisis which rocked the domestic economy.

 

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