Exactly 69.57 per cent of shares of Poslovni sistem Mercator have been transferred from Agrokor d.d. to Fortenova Group, whereby Mercator has become an integral part of the Retail Division of Fortenova Group. The transfer of Mercator shares was simultaneous with the refinancing the debt that Mercator had with 55 banks, in the total amount of EUR 385 million. In cooperation with its creditors, HPS Partners and VTB, Fortenova Group has secured the required funds to entirely replace Mercator’s aforementioned debt.

With the first day of January, the production of milk and dairy products in the milk factory in Osijek began. The first 10 000 litres of milk from the Osijek line Belje were donated to the victims of the earthquake in the Sisačko-moslavačka county

The year began with opening a new factory in Sarajevski kiseljak, the first large-scale production greenfield investment by Fortenova group. By the production of mineral water Sara, the intense adjustment due to the pandemic is continued, but also with the development of new products and services, and ended with signing a contract for the Osijek production plant dairy takeover Meggle, the first acquisition of Fortenova Group

As a result of the successfully implemented settlement of Agrokor’s creditors, in other words, the company’s financial and ownership restructuring plan, Fortenovas group started operations on April 1, 2019. In September of the same year, Fortenovas group concluded the refinancing process by issuing a corporate bond and ensuring stability and long-term sustainability.

At the hearing held on July 4, 2018, Agrokor’s creditors’ settlement was voted with 80.2 percent of the vote. The Commercial Court in Zagreb confirmed the settlement on 6 July 2018, and by a decision of the High Commercial Court, the settlement became final on 18 October 2018 *.

*Extraordinary administration proceedings were recognized as insolvency proceedings in England and Wales in November 2017, in Switzerland in February 2018, and in the United States, under Chapter 15, in November 2018. In July 2018, the Law on the Procedure of Extraordinary Administration became part of the list of laws recognized as insolvency proceedings throughout the EU by a Regulation of the European Parliament and the Council.

Due to the threatening collapse of the Agrokor system due to illiquidity and indebtedness and the consequences that such a collapse would have on the economies of the Republic of Croatia and the countries of SE Europe, on April 10, 2017, the extraordinary administration procedure was opened in Agrokor according to the Law on the Procedure of Extraordinary Administration in Companies of Systemic Importance for the Republic of Croatia.

With the construction of a greenhouse for hydroponic tomato production, the Mitrovac complex – a cow farm and a biogas plant for energy in the greenhouse – was completed.

The opened Agrolaguna’s production and tourist complex includes the reconstructed cheese factory “Sir Laguna” and the renovated buildings of the Špin station, a new tasting room and a built cheese road.

The new Vupik port for loading and unloading of cereals and oilseeds on the Danube bank in Vukovar has started operating.

As a greenfield investment, Belje has opened the most modern winery in the region of SE Europe

Acquisition of Vupik carried out.

Logistics and distribution center opened in Dugopolje near Split, the largest logistics center in the SE region with a total area of more than 80,000 square meters

In PIK Vrbovec, the construction of new meat industry on an area of more than 30,000 square meters has begun, with the most modern technological equipment for the production of meat and meat products.

Acquisition of Tisak carried out.
Konzum formed in Bosnia and Herzegovina.

Bought companies: Belje, Dijament, IDEA, PIK Vrbovec.

Bought company: Agrolaguna.

Bought company: Frikom.

Bought company: Sarajevski kiseljak.

Bought company: PIK Vinkovci

Bought company: Mladina.

Bought companies: Konzum, Ledo, Solana Pag.

Bought companies: Zvijezda.

Bought companies: Agroprerada, Jamnica.

Founded as a private company that has developed significantly in the first years of business, Agrokor soon became a leader in producing flowers and flower seedlings and trade in commodities.

During 13 years of business, it significantly expanded with new programs, which is accompanied by the growth of business indicators, and in 1989 the owner Ivica Todorić registered Agrokor as a joint-stock company.