Agrokor, the Croatia-based food manufacturer and retailer, has secured the backing of creditors for the sale of the embattled business.
The company said yesterday (19 June) a temporary council of its 5,700 creditors had given the green light to the business being owned by a Netherlands-based, creditors-owned entity, Aisle Dutch TopCo.
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Agrokor is the largest company in the Balkans, with retail interests across the region and food-manufacturing assets in sectors such as meat and frozen food. The company is said to generate revenues worth 16% of Croatia’s GDP.
Last year, the group was put under state-run administration amid huge debts
A commercial court in Zagreb will rule on Agrokor’s deal with its creditors next month.
Agrokor-owned businesses include Croatian meat processor PIK Vrbovec, local frozen food and ice cream businesses Frikom and Ledo, as well as Serbian condiments maker Dijamant.
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By GlobalDataThe group also owns Croatian food retail Konzum and Serbia-based grocer Mercator.
