Atlantic Grupa to divest production capacities and private label business of the Sports and functional food business segment to a Belgium based company Aminolabs Group, but holds on to the core brand
In an effort to restructure and simplify its Sports and Functional Food business and focus on its core brands, Atlantic Grupa has decided to sell its production facilities in Germany (Bleckede) and Croatia (Nova Gradiška) as well as private label business to a Belgium based company Aminolabs Group. Transaction is valued at around 200 million kuna of which 150 million will be processed upon the signing of the contract while the rest will be payed in full in the next two years. The completion of the transaction is expected in the last quarter of this year. Atlantic Grupa will remain a minority shareholder in the production facility in Nova Gradiška, while the strategic brands Multipower, Champ and Multaben have been spinned off in a special business unit that will remain in full ownership of Atlantic.
Atlantic Grupa will continue to develop Multipower brand moving it into the premium category, retaining its marketing, sales and innovations departments. Production of the brand will continue in cooperation with Aminolabs, and the new partnership opens a prospect of total growth in sports food in Europe.
Aminolabs Group, is a specialist in the development and production of innovative concepts in sports and health supplements, and the supplier of many internationally renowned companies in sports and health nutrition. The company is based in Hasselt, Belgium, along with its two existing state of the art, GMP (Good Manufacturing Practice) certified production plants in Hasselt and Zottegem. The company has business in 36 countries worldwide, with customers among prominent brands, online stores, retailers, pharmacy chains.
Atlantic Grupa d.d.
Source of information:
Atlantic Grupa d.d.
Miramarska 23, 10000 Zagreb
Informations to investors:
tel: +385 1 2413 145
e-mail: ir@atlantic.hr
web: www.atlantic.hr
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