This integration is an important contribution to growing coffee category in Serbia and the region, ultimately raising the regional industry's, as well as the local brands' competitive positions Atlantic Grupa submitted a binding offer today to acquire Strauss Adriatic d.o.o., which was formally accepted by Strauss Group. Transaction closing is pending for merger approval by the Serbian Competition Agency. Binding offer is based on enterprise value of 40.5 million euros, on a cash-free and debt-free basis, and assuming delivery of normalised net working capital at transaction closing. Strauss is known for its strong coffee brands in the Serbian market – Doncafe and C kafa, which would be joining Atlantic's renowned brands Grand kafa and Barcaffé. Along with the brands, Atlantic Grupa would be taking over Strauss Adriatic’s modern production facility in Šimanovci industrial zone, near Belgrade, and its 220 employees.
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Source of information:
Atlantic Grupa Inc,
Miramarska 23
Information for investors:
TEL.: +385 1 2413 322
FAX: +385 1 2413 901
E-MAIL: ir@atlantic.hr
WEB: www.atlanticgrupa.com