Imlek CEO teams with AJFH to buy Serbian dairy business

Serbian dairy institution Imlek is acceptable to alteration hands 10 years aft private-equity capitalist MidEuropa acquired the business.

London-headquartered MidEuropa is selling Imlek successful a transaction led by concern steadfast AJFH taxable to regulatory approvals. Financial details were not disclosed.

AJFH is the household bureau of entrepreneur and capitalist Andrej Jovanović, who is teaming up with Imlek CEO Bojan Radun to acquisition the company, described successful a abstracted connection arsenic the “leading” dairy concern successful Serbia and the Balkans’ region.

Based successful the Padinska Skela country successful Serbia’s superior metropolis Belgrade, Imlek operates 4 accumulation facilities processing 400 cardinal litres of beverage annually supplied from much than 3,500 farmers, according to the statement.

Imlek besides supplies a scope of dairy products specified arsenic butter, yogurt, macromolecule and flavoured beverage drinks, food and kefir.

As good arsenic its namesake line, the institution besides owns the Moja Kravica, Mlekara Subotica, Grekos and Jogood brands. It sells products successful Serbia, Montenegro, Bosnia and Herzegovina, and Macedonia.

AJFH and Radun are “joining forces to pb this determination champion into its adjacent signifier of growth”, the connection read, noting the transaction is expected to adjacent successful the archetypal quarter.

Just Food has asked AJFH for details connected the concern split, what its maturation plans are for Imlek and for details connected the dairy group's yearly revenues and profits.

Jovanović’s was the co-founder and erstwhile proprietor of Serbian snack shaper Marbo Products, present a subsidiary of PepsiCo. He was besides CEO of section food-and-drinks concern Moji Brendovi.

Radun, meanwhile, has been CEO of Imlek since 2018. He besides antecedently headed up section confectionery concern Bambi and holds a “significant” involvement successful foodstuff shaper Nectar, according to the statement.

“Imlek is simply a singular institution with heavy roots, beardown brands, and exceptional people,” Radun said. “Together with Andrej Jovanović and the AJFH team, I americium assured we tin unlock adjacent greater imaginable and reenforce Imlek’s relation arsenic the trusted dairy marque crossed the region.”

MidEuropa acquired Imlek arsenic portion of its transaction for Danube Foods Group, which had revenues of €400m ($461m today) successful 2014.

"Imlek CEO teams with AJFH to bargain Serbian dairy business" was primitively created and published by Just Food, a GlobalData owned brand.

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