Approval of the Serbian Competition Commission is expected early next year, the statement said without disclosing the value of the agreement.
Foodland is based in Belgrade and has production plants in Igros, a village at the foot of Mount Kopaonik. It employs over 180 workers, and its revenue in 2014 is expected to reach 8 million euros.
Foodland's products are present in over 20 countries and about a third of its production is exported to market outside the region, namely Western Europe, America, Australia, Russia and Japan.