CROATIA: Podravka sells Studenac mineral water to local group | Progresiv
Croatian food, beverage and drug producer Podravka said it has agreed to sell its wholly-owned mineral water subsidiary Studenac to Slovenian mineral water producer Radenska, which is part of the Kofola Group, a leading producer and distributor of non-alcoholic beverages in Central and Eastern Europe. 
The sum of the deal, which is expected to be completed by the end of this year after agreed preconditions have been met, was not disclosed.
"It is expected that this transaction will not have a negative impact on Podravka Group's business results in the current year and will positively influence its profitability in the subsequent period", Podravka said in a bourse filing.
In a separate statement, Kofola said the acquisition will further strengthen its position in the Adriatic region.
After divesting its beverages business, Podravka will continue to develop its food and pharma portfolio, directing additional resources towards the internationalisation of its main brands. (www.seenews.com)
