In one of the most significant transactions in the Croatian and regional markets, the Podravka Group has successfully completed its acquisition of the agricultural division of the Fortenova Group, with Gugić Kovačić & Krivić Law Firm playing a pivotal role in the deal.

The firm provided legal advisory services, conducted extensive legal due diligence, and assisted in drafting and negotiating transactional documentation, ensuring the seamless completion of this historic acquisition finalized on January 31, 2025. This transaction marks a crucial moment in the Croatia's agribusiness sector and reinforces Podravka’s position as a leading food industry player in the region.

The acquisition was executed through a share purchase agreement, transferring ownership of key Fortenova agricultural companies, including Belje, PIK Vinkovci, Vupik, Energija Gradec, Belje Agro-Vet, and Felix, to Podravka. The acquired companies will now operate under the newly established Podravka Agri, which will be integrated as the third pillar of Podravka Group’s operations.

Gugić Kovačić & Krivić Law Firm is honored to have been retained to provide legal advisory services for this landmark deal. The firm played a crucial role in conducting extensive legal due diligence on seven vital agricultural companies within the Fortenova Group, ensuring a thorough review of corporate documentation, material agreements, financial liabilities, labor law compliance, real estate holdings, ongoing legal proceedings, competition matters, IT contracts, intellectual property, regulatory compliance, and insurance documentation. The depth and complexity of this due diligence process required the dedicated efforts of an eleven-member legal team, whose commitment ensured a seamless transaction.



Given the scale of the acquisition, the transaction process was highly competitive. Podravka conducted a rigorous bidding process, selecting Gugić Kovačić & Krivić Law Firm based on its exceptional track record and expertise in M&A transactions. The firm also worked closely with Podravka’s other legal advisors to draft and negotiate the transaction documents, ensuring a smooth and efficient completion.

In an public statement, a representative of Gugić Kovačić & Krivić, highlighted the significance of this deal: “Due to the fact that this transaction entailed a takeover of flagship enterprises in domestic agricultural production by our client, Croatia’s largest food companie by turnover and revenue, this project is for our law firm the biggest and of most significant yet. It represents a landmark deal not only for our firm but also for the Croatian and neighboring markets as well.”

Podravka’s leadership also emphasized the strategic importance of this acquisition. Martina Dalić, Chairwoman of the Management Board of Podravka, stated in a press release: “With the successful completion of this demanding process, we have confirmed our dedication to the development of the Croatian economy and local agriculture. It is our intention to increase the strength and importance of the new member companies with significant investments and by working together on the realization of our ambitious development plans.”

On behalf of Fortenova Group, CEO and Member of the Board of Directors Fabris Peruško commented on the transaction: “Only a year ago, we initiated the process of divesting these companies, and now we have successfully closed one of the most complex transactions of its kind. I want to congratulate all teams involved for their dedication and expertise.”

Gugić Kovačić & Krivić extends its gratitude to Podravka’s executive team, particularly CEO Martina Dalić, CFO Davor Doko, and Managing Director for Strategic Business Development and Subsidiaries' Management Ines Ignjatović, for their exceptional cooperation throughout the process. Additionally, the firm acknowledges the professionalism and expertise of all legal teams involved, with special recognition for attorney Pavo Mišković and his team at Mišković & Mišković Law Firm , who advised Fortenova on drafting and negotiating the transaction documents, as well as attorney Tena Zgombić, who served as Podravka’s general legal advisor.

The completion of this transaction solidifies Podravka’s position as a dominant force in the food and agricultural sectors, exceeding €1 billion in revenue and employing more than 8,800 people. With a clear strategic vision, Podravka Agri is set to enhance the agricultural industry in Croatia and beyond, ensuring sustainable growth and long-term development.

Gugić Kovačić & Krivić Law Firm takes great pride in its role in this landmark deal and looks forward to continuing to support transformative transactions that shape the business landscape in Croatia and the wider region.