Company MK Group paid an advance for the purchase of company Victory Group on 15th June, after having settled other obligations in the previous, mostly towards the banks from which it bought a majority share of this company. The price paid remains a business secret for the time being.
Victoria Group’s former majority owner, Milija Babović, has retained ownership of a minority package of shares. Babović previously received and considered options for strategic partnerships, but also for joint investments, mergers with or acquisitions of their business system, which annually exported goods worth €178 million.
Victoria Group entered into problems with bankers several years ago. With this acquisition, MK Group has become the owner of brands including Sojaprotein, Šid-based oil refinery Mladost, SP Laboratories and Subotica’s Veterinary Institute.
With this takeover of Victoria Group, MK Group owner Miodrag Kostić has rounded off his operations in the agriculture sector and isn’t planning any further expansion in this domain. The only branch in which he will continue to expand is tourism.