Imlek Ceo Teams With Ajfh To Buy Serbian Dairy Business

Credit: Lilaclion/Shutterstock

Serbian dairy institution Imlek is group to alteration hands 10 years aft private-equity investor MidEuropa acquired nan business.

London-headquartered MidEuropa is trading Imlek successful a transaction led by finance patient AJFH taxable to regulatory approvals. Financial specifications were not disclosed.

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AJFH is nan family agency of entrepreneur and investor Andrej Jovanović, who is teaming up pinch Imlek CEO Bojan Radun to acquisition nan company, described successful a abstracted connection arsenic nan “leading” dairy business successful Serbia and nan Balkans’ region.

Based successful nan Padinska Skela area successful Serbia’s superior metropolis Belgrade, Imlek operates 4 accumulation accommodation processing 400 cardinal litres of beverage annually supplied from much than 3,500 farmers, according to nan statement.

Imlek besides supplies a scope of dairy products specified arsenic butter, yogurt, macromolecule and flavoured beverage drinks, food and kefir.

As good arsenic its namesake line, nan institution besides owns nan Moja Kravica, Mlekara Subotica, Grekos and Jogood brands. It sells products successful Serbia, Montenegro, Bosnia and Herzegovina, and Macedonia.

AJFH and Radun are “joining forces to lead this location champion into its adjacent shape of growth”, nan connection read, noting nan transaction is expected to adjacent successful nan first quarter.

Just Food has asked AJFH for specifications connected nan finance split, what its maturation plans are for Imlek and for specifications connected nan dairy group’s yearly revenues and profits.

Jovanović’s was nan co-founder and erstwhile proprietor of Serbian snack shaper Marbo Products, now a subsidiary of PepsiCo. He was besides CEO of section food-and-drinks business Moji Brendovi.

Radun, meanwhile, has been CEO of Imlek since 2018. He besides antecedently headed up section confectionery business Bambi and holds a “significant” liking successful juice shaper Nectar, according to nan statement.

“Imlek is simply a singular institution pinch heavy roots, beardown brands, and exceptional people,” Radun said. “Together pinch Andrej Jovanović and nan AJFH team, I americium assured we tin unlock moreover greater imaginable and reenforce Imlek’s domiciled arsenic nan trusted dairy marque crossed nan region.”

MidEuropa acquired Imlek arsenic portion of its transaction for Danube Foods Group, which had revenues of €400m ($461m today) successful 2014.