KOESTLIN d.d. and PODRAVKA d.d. sign a Letter of Intent

Statement by Mr. Silvije Galić , President of the Management Board of KOESTLIN d.d.

“By signing a Letter of Intent on the exclusive distribution of Koestlin products in the market of former Yugoslavia and the broader region, Koestlin d.d., producer of biscuits and waffles, expects to achieve positive sales and financial effects which will satisfy both partners. The distribution of Koestlin’s products through the Podravka network will enable Koestlin to expand its market, improve significantly its approach to customers and consumers, and contribute to the long-term development of the company.

The tradition and quality of the Koestlin product range are certainly a good basis for optimism. The well-developed and high-quality distribution network of Podravka is the other, equally important, basis for the achievement of long-term business success.
In any case, we in Koestlin expect that our products, such as Paris, Karat, Capuccino, Speculaas, Piknik, Baby Biscotte, Queen, and many others will even more quickly find their way to the end user. The satisfaction of our customers is our major goal, and this is precisely what Koestlin recognises in its partner, Podravka.”

Statement by Mr. Davor Popović, Executive Director for the markets of Southeast Europe, PODRAVKA d.d.

“ Podravka is one of the few companies that has enterprises and its own distribution network in the markets of Southeast Europe. Podravka and Koestlin have signed a Letter of Intent on exclusive distribution, which defines their joint approach to the markets of Southeast Europe. Apart from its own range of goods, Podravka will also distribute products from the Koestlin range on these markets, which will mean that we will distribute another top-quality Croatian brand together with our own brands. Podravka expects positive sales and financial results from the realisation of this Letter of Intent.
Podravka will continue to develop and expand in the markets of Southeast Europe, as well as improve its customer and consumer relations. In this respect, Koestlin is extremely significant as a high-quality Croatian brand. The Podravka Group expects good business results, and this will also enable Koestlin to achieve better sales through a good-quality and highly-developed distribution network in these markets”.