Fortenova Group is once again reshaping its portfolio, and this time the assets drawing market attention are among its most valuable. According to industry sources, Jamnica Plus, long regarded as the group’s crown jewel, and PIK Vrbovec, the last major production company in Fortenova’s agro segment, are being considered for sale.
If confirmed, the move would further underline Fortenova’s strategic shift away from production and towards its core pillars: retail, logistics, commercial real estate and beverages. After the earlier divestments of Zvijezda and Dijamant, the group’s direction has become increasingly clear — fewer businesses, tighter focus, stronger balance sheet.
Officially, Fortenova remains cautious. The company says it cannot comment on market speculation or information originating from unnamed sources. It has stated that there is currently no active process to sell Jamnica Plus, although interest in the company is described as continuous. PIK Vrbovec Plus remains part of the group, with Fortenova noting that any material developments would be communicated transparently.
Behind the scenes, however, the numbers tell their own story. Over the past two years, Fortenova has reduced its debt from €1.2 billion to €650 million, invested €200 million in employee salaries and a further €200 million in capital investments, while achieving the highest EBITDA in the group’s history. The clean-up phase appears largely complete.
Market sources identify Bosqar Invest as the most likely buyer of PIK Vrbovec. Founded by Stjepan Orešković and Manica Pirc Orešković, the fast-growing investment company has expanded rapidly through acquisitions, supported by capital market activity and a strategic partnership with MID Europe. A deal of this scale would fit squarely into Bosqar’s expansion playbook.
Whether or not both transactions materialise, the message is already clear: Fortenova is no longer managing a legacy empire. It is narrowing its focus, prioritising capital efficiency and doubling down on businesses where scale and margins matter most. In today’s regional market, that is less a retreat — and more a calculated reset.
