BOSQAR INVEST's acquisition of a 51 percent stake in the Slovenian food company Panvita Group successfully concluded on November 5th, after receiving regulatory approvals
With the finalization of the investment, BOSQAR INVEST establishes its fourth business vertical, Food
Photo: Domagoj Kunić / BOSQAR INVEST
Zagreb, Croatia, November 5th, 2024 - BOSQAR INVEST’s (BOSQAR d.d. – ZSE: BSQR) investment in a 51% stake in Panvita Group, one of the leading Slovenian Food groups dedicated to the sustainable production of high-quality food, has received regulatory approvals from the competent authorities and was concluded on November 5th.
The finalization of the transaction, with a total value of 50 million euros, also marks the launch of BOSQAR INVEST’s fourth business vertical, Food, alongside its existing BPTO, HR, and eCommerce verticals.
BOSQAR INVEST is now the majority co-owner of Panvita Holding, with the Polanič family as the largest co-owners of the remaining share in the holding. This partnership enables the group to pursue further acquisitions, particularly in the Adria and DACH regions.
"The process has been concluded according to plan, and now we will build on the organic growth of Panvita Group to strengthen the core of BOSQAR's new business vertical. We will focus on capturing the opportunities in the current regional market to consolidate the food sector while at the same time leveraging further investments and R&D. As one of the few vertically integrated chains in Slovenia's Food sector, Panvita offers a robust foundation for integrating additional components like primary and secondary production. We already have a pipeline of potential opportunities that we're exploring together with Panvita's co-owners," Darko Horvat, President of the Management Board of BOSQAR d.d., said.
Panvita’s and BOSQAR’s experienced teams will now join forces to position the group as a leading player in the food industry in Central, Eastern, and Southeastern Europe.
“I look forward to working alongside the BOSQAR INVEST team to develop the new group into a regional leader. We are witnessing growing pressure from the international food industry in the region, and to that extent, we believe that regional partnerships such as this one are of key importance when it comes to the timely positioning and creation of preconditions for achieving rapid and stable growth,” Peter Polanič, President of the Management Board of Panvita Group, said.
More information about BOSQAR INVEST’s investment in Panvita Group is available at this link in English.
BOSQAR INVEST (BOSQAR d.d., together with its subsidiaries) is a European leader that operates in the industries of business process and technology outsourcing, information technology, employment services (HR), eCommerce, and food.
With an innovative business model, BOSQAR INVEST accelerated its expansion on the market with intensive organic growth and an M&A platform. Through its buy-and-build strategy, it has acquired 57 companies since 2016. BOSQAR INVEST is focused on improving the profitability and operations of each of its acquired companies through its standardized operational models that result in significant organic growth of all companies inside the Group and the Group itself.
Today, BOSQAR INVEST operates through four business verticals: the BPTO business vertical (brand: Mplus), the HR business vertical (brands: Manpower and Workplace), the eCommerce business vertical (brand: Eplus ventures), and the food business vertical. All business verticals are focused on shareholder value creation through a commitment to best practices in digitalization, structured key accounts management programs, rigorous financial stability and cash management, strong and dedicated management teams, and a focus on results.
In its ownership structure, BOSQAR INVEST brings together pension funds, institutional investors, international private equity funds, development institutions, and private investors. The BOSQAR INVEST business community consists of over 13,800 employees, and the group provides its services to clients who, in addition to Croatia, do business in 57 countries around the world.
About Panvita Group:
Panvita Group, which celebrated its 100th anniversary in business in 2022, is one of the largest players in the Slovenian agricultural and food market dedicated to the sustainable production of high-quality food. It operates in three key segments: primary agriculture, the food sector, and sustainable energy. As one of Slovenia's leading vertically integrated chains of agricultural companies, it employs over 700 people. It cultivates more than 3,500 hectares of agricultural land using state-of-the-art equipment and production aligned with the climate program for agriculture and the environment. In 2022, Panvita Group recorded over EUR 117 million in revenues and EBITDA of more than EUR 10,3 million.
Panvita is a leader in the ecologically sustainable food business and has committed to reducing greenhouse gas emissions by 40 percent by 2030 while simultaneously increasing the procurement of sustainably produced raw materials and raising the level of use of recycled packaging to at least 75 percent. Panvita has been investing in sustainable energy sources for almost two decades. In 2006, it launched its first biogas power plant, and today, it is the co-owner of three biomass and biogas power plants, with plans to further expand its energy production capacity from organic waste.
