Major Agrokor suppliers formalize group

Some of Agrokor's larger suppliers formed their own association today. The group includes 15 major companies, including Kraš, Mlinar, Atlantic Group, Franck, Podravka, and Badel 1862, to name a few. They are expected to be joined by smaller suppliers and creditors in the near future.

Podravka CEO Marin Pucar has been chosen as the group's president. He said their goal was to protect the interests of suppliers but also to maintain supply channels and sales networks.

"The credibility we have gained today by formally joining forces sends a message to other creditors and the crisis management team, so that we can arrive at a settlement that is acceptable to all sides in this process," Pucar said.

Kraš representative Marica Vidaković, a member of the creditors' council, says it is in the interest of all parties involved, even the banks, to reach a settlement.

"We are their clients and they will have to work with us in the future. If we all go under, if we all get a haircut, who will they do business with? In the long-term, our interests are the same," Vidaković said.

There has been some speculation in the media that suppliers are looking to gain a stake in Agrokor's supermarket chain Konzum. Asked about this today, the group said that things will become clearer after Agrokor's crisis management team presents a settlement proposal next week.