- Zagrebačka banka will act as the sole lead issuance agent in the planned secondary public offering (SPO) of BOSQAR INVEST, within which - for the first time in the context of a share issuance on the Croatian capital market - it is also prepared to secure part of the total capital raising on the capital market
- The funds raised through the SPO are intended for strategic acquisitions in key business verticals, the intended acquisition of PIK Vrbovec, and other strategic acquisitions aimed at long-term value creation and business expansion
- In addition, Zagrebačka banka is prepared to provide the entire investment financing required for the acquisition of and further investment in the development of PIK Vrbovec by BOSQAR
- The new credit facility is expected to support not only the announced acquisition, but also targeted investments in the modernization of production and logistics, capacity expansion, and the long-term operational development of PIK Vrbovec
Zagreb, Croatia, May 15, 2026 – The BOSQAR INVEST (BOSQAR d.d. – ZSE: BSQR) investment group on Friday presented a new strategic partnership with Zagrebačka banka, a member of UniCredit, aimed at securing key elements of the financial structure for the planned acquisition of PIK Vrbovec and supporting the further development of BOSQAR’s food vertical.
As part of the cooperation, Zagrebačka banka will, pursuant to the Agreement on the Provision of Investment Services for the Execution of the Offering of New Shares concluded with BOSQAR INVEST, assume the leading role in the planned secondary public offering (SPO) of BOSQAR INVEST as the sole lead issuance agent.
Zagrebačka banka will take on the role of key partner in the process of planning, coordinating, and executing the public offering of new BOSQAR INVEST shares. In addition, it will actively coordinate activities and cooperate with co-arrangers – Erste & Steiermärkische Bank, Privredna banka Zagreb, and Raiffeisenbank Austria – which BOSQAR INVEST will engage in relation to the implementation of the public offering of new shares.
Under the agreement, Zagrebačka banka also offered BOSQAR the possibility of issuing debt securities and, together with BOSQAR INVEST, assumed an underwriting commitment of up to a maximum amount of EUR 25 million, representing the first such example of underwriting in the history of the Croatian capital market. This confirms the bank’s commitment, as a key partner of BOSQAR INVEST, to achieving an optimal structure for financing the further growth and development of the Company and the Group.
The further development of BOSQAR’s Future Food business vertical was envisaged in the recently published announcement stating that Fortenova group had accepted BOSQAR INVEST’s binding offer to acquire a 100 percent stake in PIK Vrbovec.
The planned acquisition of Croatia’s leading producer of meat and meat products – subject to the completion of negotiations, regulatory approvals by the competent authorities, and the finalization of the investment in PIK Vrbovec – represents a logical continuation of the strategy to build a leading food platform in the region of Central and Southeastern Europe.
Zagrebačka banka, acting as sole global coordinator and lead mandated financing arranger, is prepared to provide the entire investment financing required for the acquisition and development of PIK Vrbovec. All terms of the financing in question will be finally determined in the loan agreement to be subsequently concluded between Zagrebačka banka and the acquirer of PIK Vrbovec.
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Strong Signal of Confidence from the Financial Markets
Dalibor Ćubela, President of the Management Board of Zagrebačka banka, stated:
“By taking on a key role in this transaction, Zagrebačka banka confirms its strong support for the further growth of the BOSQAR INVEST group and its confidence in its long-term potential. In doing so, we also emphasize the broader role of banks in encouraging investment and developing the capital market in Croatia. We remain focused on projects that strengthen the domestic economy, the food sector, and the resilience of supply chains, while creating sustainable value for investors and the community.”
Stjepan Orešković, majority owner and founder of BOSQAR d.d., said:
“The strategic partnership between BOSQAR and Zagrebačka banka has been generating outstanding results for many years. The fact that BOSQAR’s market capitalization has grown by more than 1000 percent since its IPO in 2019, as well as the participation of all four pension funds in BOSQAR’s bond and share issuances, makes BOSQAR the most active issuer on the Zagreb Stock Exchange and are clear indicators of the expected success of this issuance as well. We are proud of the fact that Croatian citizens — through pension funds that have already invested in BOSQAR — have achieved returns of more than 700 percent over seven years, and that investors on the Zagreb Stock Exchange have achieved one of their best investments of that period precisely through BOSQAR.”
Aleksandra Rašić, Member of the Management Board of Zagrebačka banka, stated:
“This transaction confirms the strength of BOSQAR’s project and investor interest in well-structured opportunities with long-term potential. In its execution, we focused on the precise structuring of the ownership, i.e. equity and debt components, in order to support sustainable growth and long-term value. Through this approach, we continue to build projects that have a concrete impact on the development of the domestic economy and key industries.”
Alma Mekić Ćerdić, Member of the Management Board of BOSQAR d.d., said:
“We are grateful to Zagrebačka banka and the UniCredit Group for their continuous trust and strong support in building BOSQAR’s food platform, in which ZABA acted as the agent for the issuance of new shares in 2024 and financed the investments in Panvita and Mlinar. The decision to lead the planned share issuance while simultaneously securing the entire financing of the acquisition is a strong confirmation of our strategy and long-term vision. This partnership is a clear signal of the quality structure of the planned acquisition of PIK Vrbovec and the further development of the Future Food platform. Our focus remains on disciplined capital allocation, strategic investments, and building a leading regional food ecosystem that creates sustainable long-term value for all stakeholders.”
BOSQAR INVEST previously announced that, following the completion of the intended acquisition, it plans to include PIK Vrbovec in its Future Food business vertical alongside the existing companies Panvita and Mlinar, thereby creating a complementary system encompassing primary production, processing, and distribution.
The transaction is planned to be carried out within Future Food in partnership with the existing shareholders.