Atlantic Štark d.o.o., a member of the Atlantic Group, and the German development financial institution DEG (Deutsche Entwicklungs Gesellschaft), signed a loan agreement in the amount of 20 million euros, with the aim of securing funds for financing investments in Stark’s development, which are part of a strong investment cycle of Atlantic Grupa, which refers to the company’s overall operations in the territory of the Republic of Serbia.
The specific financial package refers primarily to the modernization and increase of production and logistics capacities in Atlantic Stark. Atlantic also plans additional investments in new production facilities and the creation of a regional center for coffee production and development.
Atlantic Group plans to invest more than 100 million euros in the Serbian market over the next three years. This investment cycle has already started and so far more than 15 million euros of investments have been realized. The largest part of the mentioned investment, almost EUR 53 million, refers to production and logistics capacities in Atlantic Stark, primarily the new Smoki factory, which represents the largest single investment of Atlantic Group.
In addition to the above, significant investments in other business segments of Atlantic Group in Serbia are planned in the amount of around 50 million euros. It is primarily about investments in the distribution of consumer goods, where Atlantic is one of the leading players on the market, and in the production and sale of coffee. Atlantic Group is a renowned regional coffee producer, with the ambition to create a regional coffee development center in Serbia. In this direction, the acquisition of Strauss Adriatica and an investment worth over 40 million euros are planned, which is subject to the approval of the Commission for the Protection of Market Competition, and which procedure is still ongoing.
DEG and Atlantic Group have a long history of successful cooperation on business development, which began with Atlantic’s first acquisition of Cedevita in 2001. An additional step forward dates back to 2006, when DEG recapitalized Atlantic Group, before the company’s listing on the Zagreb Stock Exchange, and remained Atlantic’s shareholder until 2014.
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