BELGRADE Dec 28 Croatia's Atlantic Grupa
is working on an acquisition in western Europe as its
room for growth in the former Yugoslavia becomes limited,
founder and Chief Executive Emil Tedeschi told Reuters in an
Tedeschi said the price would be in the double-digit
millions of euros, without elaborating.
"Because our brands have such high market share here
locally, room for growth is limited," he said. "We are looking
for growth in northwest Europe - organic and inorganic."
Tedeschi said Atlantic could also explore the possibility of
bidding for arch-rival Podravka if the Croatian
government were to reduce its 25 percent golden share.
And he said his company may develop a new sports bar for
U.S. multinational Herbalife after a previous 10-year
contract came to an end, putting a dent in Atlantic's sales and
profits this year.
Atlantic Grupa owns four of the top 10 consumer brands in
the former Yugoslavia, according to regional market research
group Valicon: Cedevita vitamin drinks, Argeta fish and meat
spreads, peanut-flavoured corn snack Smoki, and Cockta -
Yugoslavia's 1950s answer to Coca-Cola.
(Reporting by Georgina Prodhan)