One of Croatia’s most successful companies is set to stop producing its beverage range. Podravka has announced on Thursday that it will no longer produce its beverage ranging, bakery products and part of its frozen food portfolio in the second half of 2013.
The decision means that iconic brands such as the Studena and Studenac water brands and the Lero fruit juice brand, will no longer be found on Croatian supermarket shelves later this year. Podravka believe that the decision to cut those lines in their portfolio will have a positive effect on EBIT (earnings before interest and tax) to the tune of around 4 million euros.
Business analysts say that Podravka’s beverage products had failed in recent years to take any real market share in Croatia, despite its lead Studena brand being endorsed by Croatia’s leading athlete Blanka Vlasic.