Atlantic Grupa to divest sports and functional food businesses to Aminolabs Group
Croatian food firm Atlantic Grupa is planning to sell its production facilities and private label businesses in the sports and functional food segments to Belgium-based Aminolabs Group.
Atlantic Grupa intends to retain its core brand.
Aminolabs Group develops and produces new concepts in sports and health supplements. These products are supplied to global companies operating in sports and health nutrition segments.
Atlantic Grupa has decided to sell its German and Croatian facilities in order to simplify and restructure its sports and functional food businesses and focus on its core brands.
The deal is valued at HRK200m ($30m), of which HRK150m ($23m) will be paid when the contract is signed. The remaining amount will be paid by Aminolabs over the next two years.
The transaction is expected to be completed in the last quarter of this year.
Upon completion of the transaction, Atlantic Grupa will own a small stake in its Nova Gradišk facility in Croatia, while its strategic brands Multipower, Champ and Multaben have been spun off into a special business unit. The spin-off unit will be completely owned by Atlantic Grupa
Atlantic Grupa intends to develop its Multipower brand and move it into the premium segment. It will also retain its marketing, sales and innovations departments while production of the brand will continue in cooperation with Aminolabs.
This new partnership is expected to focus on exploring new opportunities in the sports food segment in Europe.
Image: Atlantic Grupa to divest production facilities and private label business of the sports and functional food business segments. Photo: courtesy of Atlantic Grupa.