Italian food giant acquires Slovenian kefir brand

A leading Italian plant-based food producer, Valsoia has acquired a majority stake in a family-owned Slovenian dairy known locally for its brand of kefir.

The deal, which is worth €3 million, marks Valsoia's entry into the European kefir market and the dairy's foray into foreign markets, CE Report quotes The Slovenia Times.

The Bologna-based company bought the dairy Krepko by acquiring a 70% stake in the holding company Kele & Kele, the owner of the Krepko brand.

"The transaction involves an initial price of approximately €3 million for 70% of the company, based on a total enterprise value of €5.4 million," Valsoia said.

The family running Krepko will remain a 30% owner and maintain an active role in the dairy at least for another three years. After this period, Valsoia may acquire the rest of the company.

Based in the village of Laze, some 40 kilometres southwest of Ljubljana, Krepko produces organic dairy products and a variety of traditional fermented milk drinks known as kefir, including a vegan version.

The deal announces the Italian company's entry into the European kefir market. The move aligns with Valsoia's goal to diversify and expand its presence in the healthy food sector, leveraging the Krepko brand's leading position in Slovenia to strengthen Valsoia's direct presence in Europe.

According to Valsoia, Krepko kefir products account for a 30% share in the Slovenian kefir market, and sales are growing by 3.5% per year.

Krepko is managed by siblings and co-owners Sandra Turnšek and Daniel Kelečević. According to its website, the company was founded in the 1990s by their parents Dunja and Brane Kelečević, who brought kefir grains from the former Soviet Union. Before the sale, the siblings each held a 25% stake and their father the remaining 50% in Kele & Kele.

Following the acquisition, "nothing will change for Slovenian consumers," said Turnšek, who will remain director of the company. The new Italian investor means more funds for growth and innovation, she added.

Employing some 35 people, the company generated €4.9 million in sales revenue in 2024, all of it in the Slovenian market. It posted a net profit of more than €40,000.

Meanwhile, Valsoia's revenue totalled nearly €117 million last year, a 3.5% increase over 2023. It posted over €8 million in profit, an almost 16% increase year-on-year.

After the acquisitions of Ljubljanske Mlekarne and Mlekarna Vipava, Krepko is the third Slovenian dairy that has become foreign-owned, the business portal Finance reported.

In addition to this acquisition, there were two more in Slovenia in early December as British low-cost carrier EasyJet agreed to acquire Adria Tehnika, an aircraft maintenance provider operating at Ljubljana Airport, and British electronic components manufacturer DiscoverIE Group announced a takeover of Trival Antene, a Slovenian manufacturer of military antennas.

Photo courtesy of Kele & Kele