We are pleased to announce that Stankovic & Partners (NSTLAW) has successfully completed another cross-border M&A project.
In sale of 100% of the shares of Banjalucka pivara, Banjaluka, Bosnia and Herzegovina, NSTLAW acted as a legal counsel to the seller – Altima UK Value Investment Limited. The acquisition was done by Finnish beverage powerhouse, Olvi Group
NSTLAW team members are Senior Partner Nenad Stankovic, Senior Associate Luka Marosiuk, Counsel Mitar Simonovic (with respect to competition issues), and Legal Trainee Bojan Krstic, with support of Aleksandra Dimic and her legal team from of Banjalucka pivara.
Both teams were proud to provide full legal support throughout this strategic transaction, which marks a significant milestone in regional consolidation and industry expansion.
Founded in 1873, Banjalucka pivara has a longstanding tradition in beer production and is known for its strong local brands, including Nektar. Banjalucka pivara has developed operations in Bosnia and Herzegovina and Serbia, with sales operations in Montenegro, Croatia and across the region.
Olvi Group, with over 145 years of experience, produces beer, non-alcoholic beverages, and RTD cocktails across Europe. As part of its multi-local growth strategy in the Balkans and a broader region, Olvi Group has signed an agreement to acquire Banjalucka pivara, including its Serbian branch.
On the occasion of signing, Patrik Lundell, CEO of Olvi Group, commented:
“This acquisition is the second step in executing our multi-local strategy, where we seek inorganic growth in Europe through both domestic add-ons and expansion into new markets. Banjalucka pivara is known for its strong brands and proud history in the region, and it is an excellent addition to Olvi Group. Its solid position in Bosnia and Herzegovina, rapidly growing presence in Serbia, and high-quality production capabilities offer us a unique opportunity to grow across the Balkan region—where we see long-term organic potential and growing tourism. At the same time, its central location enables us to build a bridge to wider Mediterranean markets, where we see significant opportunities to further bolster our export business.”
Ilija Setka, CEO of Banjalucka pivara, added:
“I’m very happy for our team and proud to join the Olvi Group, a company where we see aligned values and shared traditions. We are excited about the opportunity to leverage our strong route-to-market capabilities and expand our range with non-alco and alco products from the Olvi Group portfolio.”
The transaction is subject to regulatory approval by the competition authorities in Bosnia and Herzegovina.
We thank all parties for their collaboration and trust and are proud to have contributed to this impactful cross-border transaction.