Podravka Acquires Companies From Fortenova Group With Legal Assistance From CMS and Others
Deal News | Feb 07, 2025 | CEE Legal Matters
Podravka, a leading Croatian food company, has expanded its agricultural sector by acquiring several companies from Fortenova Group's agriculture division. The transaction was valued at EUR 333 million. The acquisition included companies such as Belje, Pik Vinkovci, Vupik, Energija Gradec, Belje Agro-Vet, and Felix. To finance this significant purchase, Podravka secured a EUR 283 million club loan arranged by Privredna Banka Zagreb with contributions from Erste & Steiermaerkische Bank, Zagrebacka Banka, and OTP Banka. Additionally, Podravka received a EUR 50 million equity investment from the European Bank for Reconstruction and Development, allowing the bank to obtain a 15.01% stake in Podravka's newly established company, Podravka Agri, while Podravka holds the remaining 84.99%. Multiple legal advisory firms, including CMS, Miskovic & Miskovic, BDK Advokati, and others, played critical roles in facilitating this intricate acquisition process.
Sectors
- Food & Agriculture
- Finance & Banking
- Legal Services
Geography
- Croatia – Podravka is a Croatian company making a significant acquisition, and multiple Croatian entities, including Privredna Banka Zagreb, are involved in the transaction.
Industry
- Food & Agriculture – The article focuses on Podravka's acquisition of Fortenova's agriculture division, making Food & Agriculture a pertinent industry sector.
- Finance & Banking – The structuring of a EUR 283 million club loan for Podravka's acquisition and the EUR 50 million investment from the EBRD highlight the role of Finance & Banking in facilitating the transaction.
- Legal Services – Multiple legal firms were involved, providing advisory services for the transaction, linking this article to the Legal Services industry.
Financials
- EUR 283 million – A club loan arranged for Podravka's acquisition of companies from Fortenova Group.
- EUR 50 million – Equity investment from the EBRD for Podravka following the acquisition.
- EUR 333 million – Total valuation of the acquisition of Fortenova Group's companies by Podravka.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Podravka | Acquirer | Company | A Croatian food company acquiring agricultural companies from Fortenova Group. |
| Fortenova Group | Seller | Company | A company selling its agriculture division to Podravka. |
| Privredna Banka Zagreb | Mandated Arranger | Company | The leading bank arranging a EUR 283 million club loan for Podravka's acquisition. |
| European Bank for Reconstruction and Development (EBRD) | Equity Investor | Company | Provided a EUR 50 million equity investment in Podravka Agri. |
| CMS | Legal Advisor | Company | Advised on the club loan for Podravka's acquisition. |
| Miskovic & Miskovic | Legal Advisor | Company | Provided legal advice to Podravka. |
| BDK Advokati | Legal Advisor | Company | Advised Podravka in the transaction. |
| Mamic, Peric, Reberski, Rimac | Legal Advisor | Company | Provided legal advice to Fortenova Group. |
| Wolf Theiss | Legal Advisor | Company | Advised the EBRD on the equity investment. |
| DLA Piper | Legal Advisor | Company | Reportedly advised Podravka. |