Fortenova Group has officially signaled its departure from the agriculture industry by selling its fruit and vegetable division, Vinka Plus, to Osatina Group. This move aligns with its strategic shift following a restructuring process that began in 2019, when the company transitioned from its former identity as Agrokor.
As part of Fortenova’s ongoing divestment of agriculture assets, the group recently accepted an offer from Bosqar Invest for the Croatian meat producer Pik Vrbovec. However, the financial terms of the Vinka Plus sale remain undisclosed.
In a statement regarding the completion of this exit strategy, CEO Fabris Peruško remarked: “With this, the Fortenova Group successfully concludes the process of disinvesting its agribusiness because Vinka is the last company in the group directly related to agricultural production.” This liquidation represents a significant realignment within the food and beverage industry trends.
Peruško emphasized that the transaction with Osatina will enhance local agricultural production, stating: “In light of the constant global turmoil, this is very important.”
Vinka Plus, located in Vinkovci, Croatia, manages around 800 hectares of state-owned farmland and operates the Borinci orchard, one of the largest in the country. Recently, Fortenova announced that Vinka Plus had closed its unprofitable industrial fruit and vegetable processing unit, subsequently seeking a partner to sustain the business and retain its workforce.
Osatina Group specializes in producing fruits, vegetables, milk, meat, and animal feed, employing approximately 1,500 individuals across four counties in eastern Croatia. Director Mirko Ervačić stated: “This transaction represents a logical step forward in the further optimisation and expansion of our production capacities. By taking over Vinka, we are additionally connecting existing resources and strengthening efficiency within our production chain, especially in the fruit-growing segment.”
The focus for Osatina in the coming months will be on business integration, enhancing operational processes, and maximizing the potential of current plantations.
In parallel, Bosqar is set to acquire Pik Vrbovec, Croatia’s largest meat and processed-meat producer, through its Future Food division, which already includes Slovenian agri-food group Panvita and bakery group Mlinar, where Bosqar acquired a 67% indirect ownership in July.
Fortenova’s recent divestments also feature the sale of the Zvijezda sauces and oils business to Podravka-owned Žito in November, along with the sale of Serbian edible oils producer Dijamant to the MK Group in January.
These strategic moves underscore emerging trends in the food and drink business, reflecting shifting consumer priorities and increasing competitive pressures in the sector.