Bosnian investment group ASA Group has announced the completion of the acquisition of Zito Backa flour mill in Kula, Serbia. This is stated in the company’s official press release issued on Friday. The agreement, ASA Group claims, puts its subsidiary ASA Trading at the forefront of Serbia’s grain sector – in terms of grain operations, storage and processing capacity.
“This is a logical continuation of our expansion strategy in key sectors in the region. Zito Backa is more than a century of tradition, reliable quality and infrastructure that meets our international ambitions,” said ASA Group CEO Eldin Hadziselimovic.
The company emphasised that it is building on previous asset integration experience, including the purchase of the Zitoprodukt mill in Bačka Palanka in 2018. According to ASA Group, the new acquisition will complement the ecosystem in the FMCG segment, as well as strengthen the group’s export potential in Southeastern Europe.
In addition to the grain sector, the holding is actively developing projects in other sectors – notably in the production of dates and vegetable oils in Morocco and Turkey, as well as in renewable energy in Bosnia and Herzegovina (solar power plants in Bosanski Petrovac).
Zito Backa is one of the oldest flour milling companies in Serbia. It was founded more than 100 years ago. In 2013, the company in the town of Kula underwent modernisation: its capacity was increased to 220 tonnes of flour per day (in terms of wheat) and a 50,000-tonne grain storage facility was created. The company is known for its high quality flour and stable supplies to domestic and export markets.