Bosqar signs deal to acquire leading Croatian meat producer PIK Vrbovec

(Photo credi: BOSQAR INVEST)

ZAGREB, 18 May 2026 – BOSQAR INVEST and Fortenova grupa announced on Monday that they have signed a share purchase agreement (SPA) under which BOSQAR INVEST plans to acquire a 100 percent stake in PIK Vrbovec, one of Croatia’s leading meat and processed meat producers.

Once completed, PIK Vrbovec will join BOSQAR’s Future Food division alongside Panvita Group, one of Slovenia’s leading agri-food groups, and Mlinar Group, a major bakery group operating across the Adria region.

The transaction is planned in partnership with existing shareholders, the Polanič family.

The General Assembly of BOSQAR d.d. approved a capital increase through a secondary public offering (SPO) on 11 May, with the funds primarily intended to finance the planned acquisition of PIK Vrbovec, as well as other merger and acquisition opportunities within the group’s core business divisions.

Completion of the transaction remains subject to customary conditions, including regulatory approvals and the finalisation of the financing framework. The final purchase price will be determined at closing due to the structure of the transaction.

Darko Horvat, President of the Management Board of BOSQAR d.d., said the signing of the SPA marked an important step in the planned takeover and the further development of the group’s food business vertical.

He said the company believes PIK Vrbovec, together with Panvita and Mlinar, could form a strong regional agri-food platform focused on long-term growth, operational excellence and strengthening supply chain resilience across the region.

According to the companies, the expanded Future Food division, based on publicly available 2024 financial reports, would generate approximately €640 million in annual revenue and employ around 4,800 people, positioning it as one of the leading fresh food groups in the region.

The combined platform would be built around an integrated agricultural production base including multiple farms, more than 120,000 tonnes of annual production of meat, fruit, vegetables and bakery products, as well as three advanced processing facilities in the region.

The platform would also include livestock capacity of around 120,000 pigs and 4.5 million broiler chickens.

Subject to regulatory approval and the completion of the investment in PIK Vrbovec, BOSQAR INVEST expects to generate more than €1 billion in annual revenue and over €100 million in EBITDA on a pro forma consolidated basis in 2026.