The European Bank for Reconstruction and Development (EBRD) and Atlantic Grupa signed a loan agreement in the amount of EUR 10 million for the construction of a state-of-the-art factory for protein bars production in Nova Gradiška, Croatia, alongside a EUR 6 million investment by the company.
“This investment is expected to create long-term sustainable competitive advantage for the company thanks to local production, enhanced flexibility and improved margins. We have been working with Atlantic Grupa for many years and are confident this new project will be another successful example of our cooperation”, Miljan Zdrale, EBRD Head of Agribusiness, CSEE said.
“The latest investment in the factory for protein bars in Nova Gradiška certainly represents a successful continuation of our partnership with the EBRD as the central European financial institution. This is an exemplary project highlighting the EBRD’s developing role as an investor. The investment in the new factory creates in a direct manner new value – by constructing, manufacturing, employing and ultimately exporting to markets worldwide”, explained Zoran Stanković, Vicepresident for Finance and IT in Atlantic Grupa.
Atlantic Grupa launched the investment in a new factory for a line of sports and functional food products in September 2013, signing a preliminary agreement at the Industrial park Nova Gradiška. It is a project worth EUR 16 million, which will in the first year of production create 50, and with the planned business growth, a total of 160 new jobs.
In accordance with the plan of investment, construction of the factory began in April 2014, and the first products from the new lines are expected to be on the market in the first quarter of 2015. New production facilities are designed in accordance with the highest standards in food industry, and represent an investment in further development of Atlantic’s sports nutrition segment, but also in similar areas of Atlantic Grupa product assortment in the South-East European region.
Atlantic Grupa is the leading European producer of sports and functional food under the Multipower brand, and the largest part of the product assortment is made in the company’s facilities, in the environs of Hamburg and in Rogaška Slatina, while energy bars were so far manufactured under a contract with third parties. In accordance with the strategic determination to consolidate its own manufacturing, with an aim of maximum employment of the internal synergies, upon finalizing investment in the new factory, energy bars will be manufactured using own facilities.