Croatia’s Iconic Food Brand Zvijezda Sold in Major Industry Shake-Up
Croatian food giant Zvijezda, known for its oils, margarine and mayonnaise, is being acquired by Žito Group in a deal expected to exceed €100 million, pending regulatory approval.
A Landmark Deal in Croatia’s Food Industry
One of Croatia’s most recognisable food brands, Zvijezda, is set to change hands. Fortenova Group has agreed to sell Zvijezda plus d.o.o. and Zvijezda d.o.o. Ljubljana to Žito Group, a fast-growing agri-food company led by entrepreneur Marko Pipunić.
The sale will be completed once Croatia’s Competition Agency gives the green light. While the final price will be determined after closing, earlier estimates place the value of the transaction at around €100 million.
What Žito Gains
If approved, the acquisition will place three powerhouse brands under Žito’s umbrella:
Zvijezda – Croatia’s best-selling cooking oil
Margo – a leading margarine brand
Omegol – a well-known regional name
Research consistently shows Zvijezda at the top of Croatia’s brand rankings. For years, Zvijezda oil and Zvijezda mayonnaise have competed for the No. 1 spot in the country’s brand-strength charts.
In 2024 alone, the company produced 84,000 tonnes of finished products, generated €155 million in revenue, and employed over 440 people.
Why Fortenova Is Selling
Fortenova says the sale is part of a longer-term strategy to exit agricultural and related production sectors.
Fabris Peruško, Fortenova’s CEO, emphasized that the goal was not only to secure a fair price but also to find a buyer who would protect jobs, maintain tradition, and strengthen the brand’s future. He described Žito as “the most natural environment” for Zvijezda’s continued development.
The deal also helps Fortenova improve its financial position and prepare for further growth.
Žito Group’s Expanding Empire
Žito Group is one of Croatia’s most vertically integrated food producers — operating “from field to finished product.” Its operations include:
DOBRO meat industry
Čepin oil factory
Vitalka animal feed plant
Seed processing
Renewable energy production
Žito is currently Croatia’s largest egg producer, the second-largest processor of agricultural land, and the second-largest pig producer.
For CEO Marko Pipunić, the acquisition marks a major strategic step. He says combining Zvijezda’s legacy with Žito’s production network will create stronger capacity, innovation, and competitiveness across the region.
What Happens Next?
The final price will depend on Zvijezda’s financial performance up to the moment the transaction is completed. Once regulators approve the deal, Žito Group will be positioned as one of the most dominant food producers in Croatia and the wider region.
For Croatian consumers, this marks the beginning of a new chapter for a brand they have trusted for more than a century.
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