About us

With its own business operations in food production, retail chain management and agriculture, the Group directly operates in five key markets of Southeast Europe where it places over 4,000 products and provides a large number of services. With more than 45.000 employees, 29 production plants, and more than 2,500 sales locations and distribution centres, Fortenova Group is the largest private employer in the SEE region.

Key sectors of Fortenova Group’s operations are the retail sector, the beverage production sector, the edible oil production sector, the fresh and processed meat production sector, the milk and dairy production sector, as well as the agricultural production.

Holding structure

Fortenova grupa was formed on 1 April, 2019, with the successful implementation of the creditors’ settlement in Agrokor.

After the settlement, Fortenova’s holding structure was comprised of four legal entities based in the Netherlands and one legal entity based in Croatia: Fortenova Group STAK Stichting, Fortenova Group TopCo B.V., Fortenova Group MidCo B.V., Fortenova Group HoldCo B.V. and Fortenova grupa d.d. Each entity, starting from Fortenova Group STAK Stichting had 100% ownership in the following one. Fortenova Group STAK Stichting was the original issuer of depositary receipts while Fortenova Group TopCo B.V. was the issuer of convertible bonds.

Due to the presence of the Russian sanctioned entities in the equity structure, Dutch top holding company, Fortenova Group TopCo B.V., announced in November 2023 a transaction for a revised equity structure designed to strengthen and ensure Fortenova Group’s future successful operations, by preventing further financial damage and operational difficulties, which resulted from the presence of sanctioned holders in the equity structure.

On 9 July 2024 Fortenova Group TopCo B.V. has successfully completed the transformation of its ownership structure by closing the sale of Fortenova Group MidCo B.V. to Fortenova Group B.V.

Consequently, Fortenova Group no longer has any sanctioned, Russian or Belarusian equity holders. Upon completion and following a subscription process in which all non-sanctioned and non-Russian or Belarusian persons were entitled to participate in Fortenova Group B.V. on the same terms as Open Pass, Open Pass has become the majority equity holder with a 93.78% stake in Fortenova Group B.V. Over 80 minority equity holders have decided to participate in the new ownership structure and together hold a 6.22% stake.