Slovenian baked goods manufacturer Don Don is set to acquire Serbian baking peer Žitopek, as stated in a filing on the Belgrade Stock Exchange. Don Don has proposed to acquire the remaining 49.20% stake in Žitopek, which amounts to 121,977 shares. To secure this stake, Don Don is collaborating with the Spanish investment group BB Global Investing Holding.
Don Don currently holds a 50.80% stake in Žitopek, which equals 125,922 shares and has been a shareholder since 2014. The company plans to submit its takeover proposal to the Serbian Securities Commission within the next two weeks. Just Food has reached out to Don Don for further details on the transaction.
Founded in 1947, Žitopek specializes in producing a variety of baked goods, including breads, pastries, cakes, doughnuts, and sandwiches. Its products are distributed through 18 bakeries in the city of Niš, Serbia.
On the other hand, Don Don, established in 1994 in Metlika, Slovenia, offers a range of baked goods under brands like Tvojih 5 Minut and Pekarna Grosuplje. In 2015, Don Don acquired Pekarna Grosuplje from Mercator, a regional retailer, expanding its product portfolio.
Don Don’s products are available in over 10,000 sales points across multiple countries, including Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Bulgaria, and Montenegro. The company also exports its Tvojih 5 Minut brand to Slovakia, Hungary, Greece, Macedonia, Romania, Austria, Czechia, Germany, and Poland.
With a total of 21 production plants, including two in Slovenia, one in Croatia, one in Montenegro, and seventeen in Serbia, Don Don produces approximately 126,480 tons of baked goods annually. The company employs more than 2,400 individuals across its operations.
This strategic move by Don Don marks a significant development in the food and beverage industry, reflecting current trends in food and drink business mergers and acquisitions. Stay tuned for more updates on this evolving partnership in the culinary sector.
