Slovenian retailer Mercator said last week that its unit Mercator Emba has sold its ground coffee brands Santana and Loka to Ivero Trade, an affiliate of Croatian leading coffee and snacks manufacturer Franck.
Manufacturing of products marketed both under the Santana and Loka brands will remain at the Mercator Emba plants in Logatec, Mercator said in a bourse filing.
The divestment of the Loka and Santana brands is consistent with Mercator’s long-term strategy for increasing focus on the company’s core activity of retail trade.
Mercator Emba is active mainly in coffee processing, production of instant beverages and hot chocolate, desert toppings, cereals, and packed dry fruit and nuts.
In April, the Slovenian retailer signed a deal to sell its baked goods making unit Pekarna Grosuplje to local company Don Don.
Mercator, which has operations abroad in Serbia, Croatia, Bosnia and Montenegro, turned to a consolidated net profit of 4.1 million euro ($4.6 million) in the first quarter of 2015 from a loss of 8.5 million euro a year earlier as consolidated revenues edged up 0.6% on the year to 628.7 million euro.
