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Imlek’s CEO Bojan Radun is partnering with entrepreneur Andrej Jovanović’s family office, AJFH, to acquire Imlek, Serbia’s market-leading dairy producer, from private equity investor MidEuropa.

The deal, expected to close in Q1 2026 pending regulatory approvals, marks AJFH’s first investment as a lead investor.

Headquartered in Padinska Skela, Belgrade, Imlek processes nearly 400 million litres of milk annually from over 3,500 farmers across four production facilities. Its portfolio includes popular brands such as Moja Kravica, making it one of the most recognisable dairy names in the region.

Jovanović, co-founder of Serbia’s snack leader Marbo Product and CEO of regional food and beverage platform Moji Brendovi, brings extensive experience in scaling consumer brands.

Radun has led Imlek since 2018 and previously held executive roles at confectionery firm Bambi, juice producer Nectar, and serves as chairman of Poland-based Hortex.

The duo plans to strengthen Imlek’s regional leadership through targeted investment, operational improvements and product innovation.

Radun said: “Imlek is a remarkable company with deep roots, strong brands and exceptional people. Together with Andrej Jovanović and the AJFH team, I am confident we can unlock even greater potential and reinforce Imlek’s role as the trusted dairy brand across the region.”