Moji Brendovi Group


April 2015 – 2019 (Bambi and Knjaz Milos); - present (Imlek)




Increase in innovation rate*
EBITDA margin growth**
Market share gain***

Monitoring the FMCG space in Southern and Eastern Europe


After monitoring the FMCG space in Southern and Eastern Europe for a number of years, MidEuropa created Moji Brendovi Group (MBG) in April 2015 when it acquired Imlek, a dairy group in the former Yugoslavia, Bambi, a Serbian confectionery producer, and Knjaz Milos, a Serbian mineral water producer. In partnership with top management teams for the respective businesses, MBG grew impressively, generating strong profitability and a high innovation rate. In 2019, Bambi was sold to Coca-Cola HBC and Knjaz Milos to PepsiCo and KMV.


Partnership highlights: 

  • Corporate governance and board-level oversight function were significantly augmented, whilst operating teams were strengthened with top talent from leading regional and international strategics
  • Unlocked asset liquidity by resolving multiple structural and legal complexities linked to previous ownership including tender offers for minority shareholders, multiple mergers and demergers
  • Significant investment was made in innovation and new product development, successfully creating new SKUs and attracting new consumers
  • Operational excellence was one of the key value drivers, with improved organisational structure, targeted marketing and optimised central costs leading to significantly improved profitability
  • Accelerated innovation rate from 2% to 10% (share of new products in total sales) at Imlek
  • Bambi biscuits market share grew from 40% to 42% despite increased competition from international and local players 
  • Improved profitability of Knjaz Milos, with EBITDA margin increasing from 18% to 25%
  • Bambi was sold to Coca-Cola HBC in 2019; Knjaz Milos was sold to PepsiCo and KMV in 2019


Value Creation:

  • Operational Excellence


* at Imlek

** at Knjaz Milos

*** at Bambi