Croatian alcoholic drinks group Badel 1862 has made a significant move by acquiring 100% of shares in local wine, cheese, and olive oil maker Agrolaguna and winery Vinarija Novigrad from Fortenova Group. The financial details of the transaction remain undisclosed.
Fortenova stated that this acquisition will strengthen Badel 1862’s leadership position in the production of quality and premium wines in the Croatian market. This strategic move aligns with Badel 1862’s goal of developing and extending its operations in the premium alcoholic section.
Darko Knez, president of the management board of Badel 1862, expressed enthusiasm about the acquisition, stating that it is a logical step in realizing their development plans. By joining forces with Agrolaguna, Badel 1862 aims to further strengthen domestic production and open a new chapter in the development of both companies.
Badel 1862 already owns vineyards and premium wine brands in the Dalmatia region and continental Croatia. With the addition of Agrolaguna, Badel becomes the only company in Croatia with a portfolio covering all key wine regions. This deal also positions Badel as the largest producer of wine grape varieties in Croatia, with a total of 800 hectares of vineyards and a significant increase in wine production volumes from 2.5m to 6.5m litres.
Fortenova highlighted that divesting Agrolaguna was part of its strategy to focus on retail and food processing, after selling its agricultural division to Podravka last July. Fabris Peruško, CEO of Fortenova, emphasized that Badel 1862’s experience in the industry will secure the further development of Agrolaguna and strengthen its market positions and values.
The acquisition of Agrolaguna and Vinarija Novigrad by Badel 1862 showcases a promising partnership that aims to preserve Istrian heritage and traditions while promoting Croatian brands on the global stage. This transaction is expected to lead to the development of new products and further recognition of Croatian quality in the international market.
In conclusion, this strategic acquisition by Badel 1862 signifies a significant step in the Croatian alcoholic drinks industry. By expanding its operations and strengthening its market position, Badel is poised for continued growth and success in the premium wine sector.
