Mlinar parent bags equity financing for bakery expansion

Core Viewpoint - Mlinar, a Croatian baked goods producer, has secured up to €50 million ($58 million) in equity financing from the European Bank for Reconstruction and Development (EBRD) to support its expansion and modernization strategy in Croatia and the surrounding region [1][2]. Group 1: Investment Details - The EBRD's investment will fund both organic growth and mergers and acquisitions (M&A) for Mlinar [1]. - The financing will also enhance energy efficiency, increase production capacity, and promote inclusive workplace practices, particularly for female migrant workers [2][6]. Group 2: Company Operations and Market Presence - Mlinar supplies major retailers and the foodservice sector, exporting to over 20 markets and operating a bakery retail network in Croatia, Serbia, Slovenia, and Bosnia and Herzegovina [2]. - The company is positioned to accelerate growth under the strategic leadership of Bosqar Invest, which recently acquired a majority stake in Mlinar for approximately €100 million [3][4]. Group 3: Leadership and Strategic Vision - Mladen Veber, president of Mlinar, emphasized that the EBRD's investment validates the company's business model and long-term potential [3]. - Natalia Zhukova from the EBRD expressed confidence in Mlinar's growth strategy, which combines organic expansion with targeted acquisitions [5].