April 2, 2019 / 10:03 AM / 18 days ago

BRIEF-Croatia's Atlantic Grupa divests non-core businesses

    ZAGREB, April 2 (Reuters) - 
    * Atlantic Grupa          , a Croatian food company present
in 10
countries and exporting to more than 40 markets worldwide, says:
   
    * It has concluded an agreement with Germany's Genuport on
the
sales of sports and functional foods unit which includes brands
such as Multipower, Champ and Multaben that were part of
Atlantic Grupa since 2005. The two sides agreed not to disclose
the value of the transaction.
    * Those brands recorded sales of 133.7 million kuna ($20.13
million) in 2018 and represented 2.5 percent of total 2018 sales
of Atlantic Grupa, which amounted to 5.26 billion kuna.
    * The sale continues the strategy of divesting non-core
businesses, such as the sale in late 2017 of sports and
functional foods plants in Croatia and Germany to Belgium's
Aminolabs.
    * The company earlier said it expected a rise in sales of
2.7
percent to 5.4 billion kuna this year and an increase in EBITDA
of 8.7 percent to 615 million kuna.


($1 = 6.6417 kuna)

 (Reporting by Igor Ilic, editing by Louise Heavens)
  
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