Acquisitions in Croatia

MidEuropa completed the partial sale of its stake in Mlinar, a major bakery chain in the Adria region, to Bosqar Invest and its co-investors. The transaction represents a partial exit by MidEuropa following its 2019 investment and subsequent expansion and modernization of Mlinar.

Coupa acquired Croatia-based Cirtuo, an AI-powered category management company, to enhance Coupa’s AI-native Total Spend Management platform and advance its autonomous spend management roadmap. The deal integrates Cirtuo’s category and supplier strategy capabilities and initiative/value tracking into Coupa’s Strategic Sourcing Suite to help customers translate data-driven strategies into sourcing execution and savings realization.

Allurity, a European group of cybersecurity service providers, announced the acquisition of Croatian cybersecurity company Infigo IS. The deal expands Allurity’s capabilities in offensive security and strengthens its footprint in Southern Europe, adding Infigo’s roughly 100 professionals to Allurity’s 700+ cybersecurity experts across 18 countries.

Summa Equity acquired a majority stake in Nutris LLC, a sustainable plant-based nutrition and protein-ingredients producer, in a spin-out from a Danish corporation. Nutris operates a plant-based nutrition factory in the Zagreb, Croatia area with R&D based in Copenhagen, and the investment is intended to help scale capacity and improve its product offering.

Robin, a hybrid workplace software company, acquired Croatian proptech company Flow and Form to accelerate development of its hybrid work application and support international expansion. The deal adds product and platform expertise, expands Robin’s international footprint, and supports growth initiatives including increased language support and a stronger presence in the United Kingdom.

Nomad Foods Limited completed its previously announced acquisition of Fortenova Group's frozen food business ("Fortenova Frozen") for approximately €615 million. Fortenova Frozen operates a portfolio of leading frozen food brands, including Ledo and Frikom, across several Central and Southeast European markets.

TSG announced the acquisition of SITIM, a facility management and technical services company based in Zagreb, Croatia. SITIM provides management, maintenance, and support for infrastructure solutions and integrates multiple engineering disciplines to deliver technical facility management services. The deal supports TSG’s strategy to expand its technical services offering for energy distribution networks and mobility-related infrastructure.

One Equity Partners (OEP) signed a definitive agreement to make a major strategic investment in Infobip, a global communications platform as a service (CPaaS) provider. The investment represents Infobip’s first outside capital and is intended to support expansion in North America and accelerate growth through strategic acquisitions.

MidEuropa agreed to merge its portfolio company CMC Iletisim ve Cagri Merkezi Hizmetleri A.Ş. (CMC) with Meritus Upravljanje d.o.o. (M+ Group) in exchange for a 30% equity stake in the combined business. The transaction is intended to create a leading regional contact centre and business process outsourcing (BPO) provider in South Eastern Europe and is expected to close by the end of January 2020.

MidEuropa Partners entered into an agreement to acquire a majority stake in Mlinar d.d., a leading bakery retail and wholesale business in Croatia, from its founder Mato Skojo. Skojo will retain a stake in the company, and the transaction is expected to close in Q2 2019 subject to customary conditions.