Mlinar

MidEuropa acquired a majority stake in the Croatian baked goods specialist Mlinar in June 2019, with the Founder retaining a minority stake. Benefitting from a strong leadership position in its core domestic market, Mlinar has a clear opportunity to consolidate the regional retail bakery market and expand its B2B business regionally and in Western Europe by leveraging its well-invested production facilities and logistics network. Management has been working with MidEuropa to accelerate organic growth of the retail network and B2B segment, improve operational efficiency and expand geographically with a targeted M&A programme.

Partnership highlights:

• Improving customer experience and driving retail sales through a streamlined commercial model and enhanced new product development 
• Capitalising on revenue synergies with MidEuropa’s other portfolio companies
• Expanding Mlinar’s footprint via M&A expansion in Serbia and winning B2B clients in Western Europe
• Commenced a comprehensive ESG programme including production, energy efficiency and human resources
• Investing in internal capabilities, such as enhancing management reporting and IT systems to improve decision-making, productivity and quality

Value creation:

• Organic Growth
• Acquisitive Growth
• International Expansion
• Operational Excellence
• Digitalisation