MK Group acquires Fortenova’s Dijamant edible oils business
The deal will transfer ownership of Dijamant’s brands, manufacturing facilities and distribution network to MK Group once it secures the necessary approvals from competition authorities across the relevant jurisdictions.
SERBIA – MK Group, a leading Serbian conglomerate spanning agriculture, banking, tourism, and energy, has agreed to acquire 100% stake in Dijamant, Fortenova Group’s prominent edible oils producer based in Zrenjanin, northern Serbia, in a landmark deal.
This transaction marks one of the largest agri-food acquisitions in the Adria region, enabling MK Group to deepen its push into food processing while allowing Fortenova to exit agriculture fully.
Dijamant, a market leader in Serbia for sunflower oils, margarines, vegetable fats, mayonnaise, and related products, operates a state-of-the-art facility modernized with over €40 million (US$47.6M) in Fortenova investments since 2017.
These upgrades doubled production capacity, cleared pre-existing debts, and boosted competitiveness, solidifying its dominance in local retail under the Dijamant brand.
The sale, on undisclosed terms, awaits competition authority approval, reflecting Fortenova’s post-Agrokor restructuring to refocus on retail, logistics, real estate, and beverages.
MK Group’s General Director, Mihailo Janković, hailed the move as pivotal for its Agri-Food division: “This acquisition represents an important step in the further development of our MK Agri-Food division and once again confirms MK Group’s long-term ambition to lead the regional agri-food industry.”
The conglomerate, active across Serbia, Montenegro, Croatia, and Slovenia, sees synergies with its existing operations in sugar, meat, fruits, dairy, cereals, and grains, thereby enhancing supply chain integration amid abundant sunflower seed production in the Vojvodina plains.
Fortenova CEO Fabris Peruško emphasized strategic realignment: “With this transaction, we complete our exit from the agricultural industry and the edible oils and processed products industry. It is part of a portfolio optimization process and an exit from areas that are no longer aligned with our strategic direction. Fortenova Group’s focus is on the retail, logistics, commercial real estate and beverages sectors.”
This divestiture follows sales of other assets, such as fruit processors, to Podravka, streamlining Fortenova’s portfolio after its 2018 emergence from Agrokor’s bankruptcy.
The deal underscores Southeast Europe’s consolidating agribusiness landscape, where edible oil demand surges amid population growth and EU exports.
Serbia’s sunflower output, which exceeds 1 million tons annually, benefits from such vertical integration, stabilizing farmers’ incomes against global price volatility.
For industry watchers, MK’s entry boosts regional food security, potentially spurring tech upgrades and sustainable sourcing in the market.
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