Mlinar Remains Biggest Market Player, Pan-Pek Ups It’s Game

Lauren Simmonds

Whether it’s burek, doughnuts or krumpiruša, Mlinar remains on top.

As Poslovni Dnevnik/Darko Bicak writes on the 8th of April, 2018, the Mlinar bakery chain came to the public’s attention a mere ten days ago when it was announced that the Polish private equity fund Enterprise Fund VII concluded the purchase of a 65 percent stake in the Croatian Pan-Pek company, which deals with the production and sale of baked goods.

With the still entirely unclear situation with Agrokor, which has a significant share of this field in its massive, burdened system, coupled with the arrival of a foreign player, market transformation in the coming period is a likely situation. On this occasion, the Financial Agency (FINA) conducted an analysis of the current situation of the bakery industry here in the Republic of Croatia, which, at the end of 2016, had 850 entrepreneurs with a total of 15,874 employees under its belt. Compared to the previous year, this marks a 7.7 percent increase in employee growth.

Looking at the county level, the largest players in the bakery industry are in the City of Zagreb, 160 of them, followed by Split-Dalmatia County with 113, and then Primorje-Gorski Kotar County with 68. There are fewer in Lika-Senj County, where there are a mere ten. The total ”bakery revenue” in 2016 amounted to 4.2 billion kuna, which was an encouraging increase of five percent. During the period under review, players in the bakery industry showed a positive consolidated financial result of 155.4 million kuna, which is 14.3 percent higher.

The largest company in the production of bread, pastry, confectionery and cake, when judged by total income, profits and the number of employees, is Mlinar, with 529 million kuna of revenue, Pan-Pek comes in second place with regard to income, and third, by the number of workers, 585 of them, behind that comes the Zagreb bakery Klara, with 750 employees.


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