Žito Group has formally completed the acquisition of Zvijezda Plus and Zvijezda Slovenia from Fortenova Group, marking one of the most significant transactions in the regional food industry in recent years.
Following approvals from all relevant regulatory authorities, Žito d.d. officially became the owner of 100 percent of the business shares in Zvijezda Plus d.o.o. and Zvijezda Podjetje za notranjo in zunanjo trgovino d.o.o. Ljubljana.
The purchase agreement sets the transaction value at €94.06 million, while the total enterprise value, including financial assets and liabilities of the acquired companies, amounts to €115.72 million. Žito financed the acquisition through a combination of €90 million in bank loans and its own funds.
The deal keeps ownership of one of Croatia’s oldest food production companies in domestic hands, while strengthening Žito Group’s position in the strategically important food sector. With the acquisition, the company adds three major regional brands – Zvijezda, Margo and Omegol – to its portfolio.
Zvijezda’s oil and mayonnaise products have long held leading positions on the Croatian market and maintain strong market shares across the wider region. Žito Group expects the integration of Zvijezda’s operations with its existing agricultural and industrial production system to create additional efficiencies, strengthen innovation capacity and further improve competitiveness.
