Atlantic Grupa has announced an investment of €50 million into the construction of a new factory in Croatia for products under the Argeta brand.
Located in the Kneginec business zone near Varaždin, the new facility will be built on 41,000 square metres of land and will manufacture Argeta’s range of meat pâtés.
The investment of additional capacity is in response to supporting Atlantic Grupa’s growth strategy and its focus on the savoury spreads category.
According to Atlantic Grupa, savoury spreads accounts for 15.9% of its total sales revenues. In 2020, the unit recorded 15.1% growth compared to the previous year.
The company currently operates two factories that produce Argeta spreads in Izola, Slovenia and Hadžići, Bosnia and Herzegovina. It has also set up production in Harrisburg to serve its US and Canadian markets.
Atlantic Grupa says the production facility will be equipped to the highest technology standards, with the project creating up to 150 new jobs.
The investment is currently underway with the realisation of land acquisition and is expected to be operational within 15 months of obtaining a building permit.
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