Continuation of Selling the Non-Core Operations.
Atlantic Grupa and the German Genuport, a long-time partner in the distribution of sports and functional food, concluded an agreement on sales of the Sports and Functional Food Business Unit, which includes brands such as Multipower, Champ and Multaben, and which in 2018 recorded sales of 133.7 million Kunas and made up 2.5 percent of total sales of Atlantic Grupa.
This represents the continuation of the corporate strategy of disinvesting the non-core business operations, within which the sports and functional food’s production plants had already been previously disinvested to the Belgian Aminolabs.
„The German company Genuport, as the distributor to date, enters into ownership of the market-established brands, with an excellent knowledge of the market as well as the potential of the brands within the sports and functional food segment, and as such, it made for a logical choice of partner in this process. We believe that Genuport will continue to develop the brands with a long tradition in a focused and committed manner, and that, by applying the knowledge it holds when it comes to distribution, it will position itself even better in this fast-growing market segment“, said Neven Vranković, Vice President for Corporate activities, adding that both companies treat the amount of the transaction as a business secret.
Multipower has been a recognized brand for over 40 years now, and it is one of the European leaders in the sports and functional food market, well-known for its high-quality protein products and food supplements for athletes and recreational athletes. It has been in the system of Atlantic Grupa since 2005, with the accompanying brands Champ and Multaben, well known to the German as well as the wider European consumers. Genuport is one of the leading German distribution companies with a long reference list of partner companies such as Wander, Mondelez, Snyder's Lance, Weetabix and many more.