Radenska takes over Podravska's Studenac for EUR 9 million

The Slovenian company Radenska has taken over Lipik's Studenac by acquiring 100% of the mineral water company's stock.

This information was reported by Podravska and Radenska, member of Kofola CzechoSlovakia Inc, independently of each other, on Tuesday, December 20.

Podravka reported the completion of the transaction through the Zagreb Stock Exchange, stating that the entirety of its stock in Studenac had been transferred to Radenska, reports the agency Hina.

The transaction entails the transfer of all copyrighted watermarks of Podravka, used to mark their drink products, Podravka's report says.

Radenska and Podravka signed the sales and purchase agreement on Studenac on September 20, on which occasion the representatives of the two companies didn't wish to divulge the value of the transaction, whereas unofficial sources cited the amount of EUR 9 million.

The contract itself contains a list of conditions to be met before the transfer of ownership.

– The listed conditions have been met. Radenska has acquired 100% stock by fulfilling the financial requirements and Studenac is officially a member of the Kofola Group starting today – says the report by Radenska.

The Slovenian company's portfolio, then, officially includes the mineral water Studenac, natural spring water Studena and Lero syrups from December 20.

– This acquisition further strengthens the position of both Radenska and the entire Kofola Group in the Adriatic region – says the report by the Slovenian company.

RADENSKA DD RADENCI

PODRAVKA d.d. Koprivnica

Radenska

Studenac

Podravka

Kofola CzechoSlovakia Inc

mineral water Studenac

natural spring water Studena

Lero syrups