Agrokor
Encyclopedia
Agrokor (ˈâɡrɔkɔːr) is the largest privately held company
in Croatia
. Originally founded in 1976 as a company producing flowers and flower seedlings, it greatly expanded their operations in the following decades by acquiring a number of large companies in Croatia and Southeast Europe
. The Agrokor group currently has almost 40,000 employees, and had an annual sales revenue of EUR
3.6 billion in 2009. This made Agrokor the biggest company in Croatia in terms of sales revenue and placed it 18th in Deloitte's annual list of the 500 biggest Central European companies.
Agrokor's core businesses are the production and distribution of food and drinks and retail, and over the years the group acquired several large Croatian companies in those sectors:
In recent years, Agrokor also acquired or founded a number of companies in the region, including the Serbian ice cream manufacturer Frikom
, watter bottling companies Sarajevski kiseljak (in Bosnia and Herzegovina
) and Fonyodi (in Hungary) and others. The company is aiming for a takeover a Slovenian Mercator
, which is the biggest retail chain not just in Slovenia, but allso throughout the Balkan region, with over a 2000 stores.
Several of Agrokor's Croatian subsidiaries are listed on the Zagreb Stock Exchange
(ZSE) and two of these (Ledo and Konzum) are included in its official share index CROBEX
as of September 2010.
Privately held company
A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...
in Croatia
Croatia
Croatia , officially the Republic of Croatia , is a unitary democratic parliamentary republic in Europe at the crossroads of the Mitteleuropa, the Balkans, and the Mediterranean. Its capital and largest city is Zagreb. The country is divided into 20 counties and the city of Zagreb. Croatia covers ...
. Originally founded in 1976 as a company producing flowers and flower seedlings, it greatly expanded their operations in the following decades by acquiring a number of large companies in Croatia and Southeast Europe
Southeast Europe
Southeast Europe or Southeastern Europe is a relatively recent political designation for the states of the Balkans. Writers such as Maria Todorova and Vesna Goldsworthy have suggested the use of the term Southeastern Europe to replace the word Balkans for the region, to minimize potential...
. The Agrokor group currently has almost 40,000 employees, and had an annual sales revenue of EUR
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
3.6 billion in 2009. This made Agrokor the biggest company in Croatia in terms of sales revenue and placed it 18th in Deloitte's annual list of the 500 biggest Central European companies.
Agrokor's core businesses are the production and distribution of food and drinks and retail, and over the years the group acquired several large Croatian companies in those sectors:
- JamnicaJamnica (company)Jamnica is a water bottling company from Croatia. Its main products are mineral water Jamnica and Jana, named after the two main water springs it uses near Pisarovina on the river Kupa. It is the largest bottled water producer in the country....
- the largest water bottlingBottled waterBottled water is drinking water packaged in plastic or glass water bottles. Bottled water may be carbonated or not...
company in Croatia, established in the 1830s and acquired by Agrokor in 1992. - Zvijezda - the largest cooking oilCooking oilCooking oil is purified fat of plant origin, which is usually liquid at room temperature ....
and margarine factory in the country, established in 1916 and acquired in 1993. - KonzumKonzumKonzum is Croatia's largest supermarket chain with just over 600 stores open in Croatia and has more than 10,000 employees. Its headquarters are in Zagreb. Konzum stores can also be found in Bosnia and Herzegovina, and Serbia. Konzum receives over 500,000 customers each day . Konzum also operates a...
- the largest supermarketSupermarketA supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
chain in the country which operates over 600 stores in Croatia, Bosnia and Herzegovina and Serbia. Originally founded as "Unikonzum" in 1957, the company was acquired by Agrokor in 1994 - Ledo - the largest ice creamIce creamIce cream is a frozen dessert usually made from dairy products, such as milk and cream, and often combined with fruits or other ingredients and flavours. Most varieties contain sugar, although some are made with other sweeteners...
and frozen foodFrozen foodFreezing food preserves it from the time it is prepared to the time it is eaten. Since early times, farmers, fishermen, and trappers have preserved their game and produce in unheated buildings during the winter season. Freezing food slows down decomposition by turning water to ice, making it...
manufacturer in Croatia, established in 1976 and acquired in 1994. - PIK Vrbovec - the largest meat manufacturer in the country, acquired in 2005.
- Belje - the largest agricultural company in the country, acquired in 2005.
- Tisak - the largest chain of newsstands in the country and the biggest retailer of newspapers and tobacco products. Agrokor acquired a 54 percent majority stake in Tisak in 2007.
In recent years, Agrokor also acquired or founded a number of companies in the region, including the Serbian ice cream manufacturer Frikom
Frikom
Frikom is a Serbian maker of ice cream, which also sells frozen fruit, vegetables, fish, and pastries. It was set up in the early 1970s in Yugoslavia with help from Unilever. At first called Jedinica Zajedničkog Ulaganja , it was renamed Frikom - Kompanija Smrznute Hrane...
, watter bottling companies Sarajevski kiseljak (in Bosnia and Herzegovina
Bosnia and Herzegovina
Bosnia and Herzegovina , sometimes called Bosnia-Herzegovina or simply Bosnia, is a country in Southern Europe, on the Balkan Peninsula. Bordered by Croatia to the north, west and south, Serbia to the east, and Montenegro to the southeast, Bosnia and Herzegovina is almost landlocked, except for the...
) and Fonyodi (in Hungary) and others. The company is aiming for a takeover a Slovenian Mercator
Mercator
Mercator may refer to:* Marius Mercator , a Catholic ecclesiastical writer* Gerardus Mercator, a 16th-century Flemish cartographer** Mercator projection, a cartographic projection devised by Gerardus Mercator...
, which is the biggest retail chain not just in Slovenia, but allso throughout the Balkan region, with over a 2000 stores.
Several of Agrokor's Croatian subsidiaries are listed on the Zagreb Stock Exchange
Zagreb Stock Exchange
The Zagreb Stock Exchange or ZSE is a stock exchange located in Zagreb, Croatia. It is Croatia's only stock exchange. The exchange trades shares of Croatian companies, as well as bonds and commercial bills....
(ZSE) and two of these (Ledo and Konzum) are included in its official share index CROBEX
CROBEX
CROBEX is the official share index of the Zagreb Stock Exchange. As of March 2011, it includes stocks of 25 companies and is calculated continuously using the latest stock prices...
as of September 2010.