By: G. B.
The Croatian service company Mplus has become a 51% owner of the Panvita Group. Through recapitalisation, it will support Panvita’s strategy and expand its operations into the agri-food industry. “The two groups are merging with the aim of positioning the new group as a leader in the food industry in Southeast Europe,” Panvita announced.
The investment in the Panvita Group amounts to 50 million euros and, upon obtaining all necessary approvals, will enable growth and expansion through further acquisitions. “The headquarters and management remain in Rakičan,” affirmed the Slovenian agri-food company, announcing that the strategic partnership will “significantly strengthen the group’s capital, enable more intensive development, and expand the planned investment cycle”.
“The centre of our development and operations, as well as the newly established group built on the foundations of Panvita, remains in Slovenia, but regional partnerships will be crucial for increasing the efficiency and speed of implementing our strategy. In the Mplus group, we have recognised the best strategic partner for the development and positioning of Panvita and the new group as leading food companies in the region,” said Peter Polanič, CEO of the Panvita Group.
The Panvita Group is one of the largest players in the Slovenian agricultural and food market. It operates in primary agriculture, the food sector, and sustainable energy production. In Slovenia, it employs more than 700 people and cultivates over 3,500 hectares of agricultural land. In 2022, the Panvita Group achieved revenues of over 117 million euros and a gross operating profit of over 10.3 million euros. Formerly, Dejan Židan served as its CEO, later becoming the Minister of Agriculture and the president of the SD party.
The service company Mplus, operating in the sectors of contact centres, information technology, and employment services, is entering the agri-food industry. The group has been present in the Slovenian market since 2017 when it acquired the companies Linea Directa and CDE Nova Tehnologija. It then formed a partnership with Manpower Slovenia, acquired the company Konverzija, and became a co-owner of IEDC – Bled School of Management. “The Mplus Group considers Slovenia its domestic market, as it is the country in the region where it has realised the most investments,” they wrote.
Upon completion of the investment in Panvita and approval by the regulator, the consolidated Mplus group is expected to generate revenues of 500 million euros. According to the partners, Polanič and the executive director of the Panvita group, Toni Balažič, will remain in the management team of the new group, joined by two leaders from Mplus, announced Darko Horvat, CEO of the Mplus group.
The majority ownership of Panvita, which includes besides the parent company Panvita, companies in the agriculture and trade, meat and meat products, and energy sectors, has been consolidated around the company Regal – Store and the companies Imo-Real and Imo-Rent or the Polanič family. The Panvita Group celebrated its 100th anniversary two years ago.
Interestingly, Darko Horvat, currently leading Mplus, is a former Croatian Minister of Construction. However, he should not be confused with the Slovenian businessman and tycoon of the same name, who last year facilitated the acquisition of Studio Moderna, previously owned by Sandi Češko (SD), and was once operated by the current President of the Republic, Nataša Pirc Musar.
