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Bosqar Moves to Buy Croatia’s Meat Giant PIK Vrbovec
Croatian investment group Bosqar has made a major step to acquire leading meat producer PIK Vrbovec, as Fortenova continues its strategic shift away from agriculture.
Martina Osmak
Director of Marketing
Deal Moves Forward
Fortenova Group has accepted a binding offer from Bosqar Invest to buy 100 percent of PIK Vrbovec, one of Croatia’s biggest food companies.
The two sides will now negotiate final terms. The deal still needs regulatory approval and financing before it can be completed.
If successful, Bosqar will take control of the country’s largest meat and processed meat producer.
Why Fortenova Is Selling
Fortenova is changing its business focus. The company wants to move away from agriculture and concentrate on other activities.
PIK Vrbovec depends heavily on farming and meat production. Because of this, Fortenova decided it was better to find a new owner.
This sale is part of a wider plan. Since 2019, Fortenova has sold several businesses and reduced its debt significantly.
Bosqar’s Growth Strategy
For Bosqar Invest, this acquisition is a key step in building a strong regional food platform.
The company is expanding its “Future Food” division, which already includes:
Slovenian agri-food group Panvita
Regional bakery chain Mlinar
Adding PIK Vrbovec would strengthen this network and create a more integrated food system.
Bosqar believes this will improve efficiency and help secure food supply in the region.
About PIK Vrbovec
PIK Vrbovec is a major player in Croatia’s food industry.
Key facts:
Around 1,500 employees
Annual revenue of about €337 million
Exports to roughly 20 countries
Owns farms and works with partners like Belje
Its vertically integrated model means it controls production from farms to finished products.
What the Combined Group Could Look Like
If the deal goes through, Bosqar’s food division will grow significantly.
Expected figures based on recent data:
About €640 million in revenue initially
Around 4,800 employees
More than €1 billion in annual revenue projected by 2026
Over €100 million in EBITDA
Production capacity would include:
86,000 tonnes of food per year
120,000 pigs
4.5 million chickens
Financing and Next Steps
Bosqar plans to finance the deal through a secondary public offering. This may allow more investors, including individuals, to participate.
The final agreement is expected soon, but completion depends on:
Signing the share purchase contract
Securing financing
Receiving regulatory approvals
A Broader Trend
This deal reflects a larger trend in Europe’s food industry. Companies are consolidating to build stronger supply chains.
Recent global tensions have also highlighted the importance of food security. Bosqar sees its investment as part of that effort.
If completed, the acquisition could reshape the food sector in Southeast Europe and position Bosqar as a major regional player.
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