- Panvita, a member of BOSQAR INVEST's Food business vertical, is acquiring a 50% stake and 50% plus one vote in Slovenian company Paradajz, known for its LUŠT brand of tomatoes and cucumbers, as part of an investment with a total value exceeding EUR 20 million.
- Paradajz Group will take over Panvita's greenhouse operations, bringing together approximately 16 hectares of greenhouses upon completion of the integration and expanding its product portfolio.
- The new business platform will be developed in partnership with the existing founders of Paradajz Group, focusing on further investment, increased production capacities, and business expansion.
Zagreb, Croatia, November 4, 2026 – Croatian investment group BOSQAR INVEST (BOSQAR d.d. - ZSE: BSQR) announced that Panvita, a member of the Group's Food business vertical, is acquiring a 50% stake and 50% plus one vote in Slovenian company Paradajz, a producer of tomatoes and cucumbers in high-tech greenhouses under the LUŠT brand.
As part of the partnership, Paradajz Group will take over Panvita's greenhouse operations, further expanding its production capacities and portfolio.
The total value of the investment, which includes fresh capital for Paradajz, is planned to exceed EUR 20 million.
The founders and other existing shareholders will retain their stakes and continue developing the company together with Panvita.
This will enable Paradajz Group to expand its operations into lettuce production, alongside its existing production of tomatoes and cucumbers. At the same time, Panvita is bringing together other complementary business activities with Paradajz Group, creating additional opportunities for business development and expansion.
On a pro forma basis, as if the companies had been consolidated as of January 1, 2027, Paradajz Group1 is expected to generate approximately EUR 20 million in revenue and more than EUR 7 million in adjusted EBITDA2 in 2027. The estimate is based on the companies' business plans3.
The transaction is expected to close following the fulfilment of customary conditions, including approvals from the relevant authorities.
With this investment, BOSQAR INVEST continues to develop its Future Food business vertical, which includes Panvita and Mlinar, as a leading regional food production platform.
A New Platform for Fresh Vegetable Production
Paradajz Group, comprising Paradajz and Friško, has developed one of Slovenia's most recognizable platforms for high-tech vegetable production. Its operations include the production of various varieties of tomatoes and cucumbers, supported by the strong market presence of the LUŠT brand.
By taking over Panvita's greenhouse operations, Paradajz Group will expand its production and, upon completion of the integration, bring together approximately 16 hectares of high-tech greenhouses in Slovenia's Pomurje region.
The new platform will combine Paradajz Group's existing production capacities with Panvita's greenhouse lettuce production operations, including a modern greenhouse in Nemščak, in whose construction approximately EUR 9 million was invested.
By combining production capacities, technological expertise and experience, the partnership will create new opportunities for further investment, increased production volumes, the development of new product categories and expansion into regional markets.
Partnership with the Founders to Support Continued Development
Panvita's strategic investment is based on a partnership with the existing founders and management of Paradajz Group, who will continue to play an active role in managing and further developing the business.
The founders' extensive experience in developing high-tech production and their strong presence in the Slovenian market, combined with Panvita's investment support, provide the foundation for Paradajz Group's next phase of development.
"Panvita and Paradajz Group share a long-standing commitment to domestic food production, modern agricultural technologies and continuous investment in development. Through this partnership, we are combining complementary production capacities and expertise, creating a stronger platform for high-tech greenhouse production. It is particularly important to us that we will develop the business together with the founders of Paradajz Group, whose experience and entrepreneurial approach provide an important foundation for future growth. Our shared goal is to increase production, expand our portfolio and create new opportunities for development in the Slovenian and regional markets," said Peter Polanič, Chairman of Panvita's Management Board.
"Joining forces represents an important step forward in the development of both companies. By combining knowledge, experience and production capacities, we are creating the conditions for further growth and development of Slovenian food production, with the ambition of expanding beyond national borders. The LUŠT brand remains the central pillar of our development, while we are expanding our portfolio with the Frišno lettuce brand. By increasing production capacities, we will provide customers with even greater access to high-quality, locally produced food of Slovenian origin," said Kristjan Magdič, Director and Co-owner of Paradajz Group.
Continued Strategic Development of BOSQAR INVEST's Food Platform
The investment in Paradajz Group represents a continuation of Panvita's investment cycle, following BOSQAR INVEST's entry into Panvita's ownership structure in 2024.
Since then, Panvita has continued investing in production modernization, new technologies and increased production capacities. Among its major projects is the modern greenhouse in Nemščak, which will become part of the expanded Paradajz Group following the takeover of the greenhouse operations.
The new investment creates opportunities for the further development of high-tech fresh vegetable production by combining the production capacities, technological capabilities, and market expertise of two Slovenian producers.
BOSQAR INVEST thereby continues to develop its Future Food business vertical, which brings together Panvita and Mlinar, with a focus on investment in food production, the development of local companies, operational efficiency and long-term value creation.
1 Paradajz Group comprises Paradajz d.o.o., Friško d.o.o. and Panvita Vrtnine d.o.o.
2 Adjustments relate to items considered one-offin nature, i.e. those without recurring characteristics, and their impact onrevenue and costs.
3 The 2025 results are not comparable, as the lettuce greenhouse was not operational for the entire year. Forward-looking statements are not guarantees of future performance.