Croatian bakery giant Mlinar officially acquired by Bosqar

Mlinar (Photo credit: Mlinar/Facebook)

Croatia’s leading bakery group, Mlinar, has officially become part of Bosqar Invest’s food vertical, following the regulatory approval of a €100 million acquisition deal.

The move comes after an agreement was signed in late 2024 for Bosqar to acquire a 67% indirect controlling stake in Mlinar.

As Poslovni.hr writes, the Croatian Competition Agency (AZTN) has since approved the transaction, determining that it does not represent a prohibited market concentration, taking into account competitors, market share, and expected effects.

This acquisition marks another strategic step for Bosqar in the food sector, which it has branded as Future Food.

The company entered this space less than a year ago with the acquisition of Slovenia’s Panvita Group, signalling early intentions to explore further expansion.

Mlinar operates four production facilities in Croatia, importing and distributing baked goods, and is active in both wholesale and retail markets.

Its reach extends across more than 20 international markets, with over 2,500 employees. In 2023, Mlinar sold over 210 million products and generated €163 million in group revenue.

The parent company reported even stronger results, closing the year with €164 million in revenue—up 15% from 2022—and a net profit of €9 million, marking a 172% increase year-on-year.

With the integration into Bosqar and MidEuropa’s joint control, Mlinar is now positioned to further expand its presence in the region as part of Bosqar’s growing food portfolio.