The deal, which also includes the brewery’s Serbian subsidiary, marks Olvi’s bold entry into Southeast Europe with ambitions stretching across the Balkans and into Mediterranean markets.
Founded in 1873, Banjalučka Pivara is best known for its flagship brand Nektar, the most popular beer in Bosnia and Herzegovina and the fastest-growing in Serbia and Montenegro. Beyond beer, the brewery has expanded exports to Croatia, Slovenia, and Italy, recording net sales of €28 million in 2024. Under Olvi’s ownership, plans include diversifying production into non-alcoholic drinks and ready-to-drink cocktails, reflecting global consumption trends.
“This acquisition is the next step in implementing our multilocal strategy—building growth in Europe by acquiring strong local companies and entering new markets,” said Patrik Lundell, CEO of Olvi Group. “Banjalučka Pivara’s central position offers us a unique springboard to the Balkans and the Mediterranean, where we see long-term growth potential.”
For Banjalučka Pivara, the deal promises stability, broader distribution, and the chance to elevate its brands. “We are proud to join Olvi, a company that shares our values and tradition,” noted Ilija Setka, Director of Banjalučka Pivara. “This opens the door to strengthen Nektar and introduce Olvi’s wider portfolio to our region.”
The transaction is subject to regulatory approval in Bosnia and Herzegovina and is expected to close by the end of the year. Terms of the deal remain undisclosed.
