Balkan's Largest Dairy Business Imlek Changes Ownership

The transaction involves the current CEO of Imlek, Bojan Radun, and is pending regulatory approval. The closing is scheduled for the first quarter of 2026. Financial details have not been disclosed.

Imlek is a key player in the dairy industry of Serbia and the region. The company operates four plants that process approximately 400 million liters of milk annually, works with over 3,500 farmer-suppliers, and produces a wide range of products: butter, yogurts, cheeses, kefir, protein drinks, and flavored milk. The holding owns the brands Imlek, Moja Kravica, Grekos, Jogood, and Mlekara Subotica. Its products are supplied to the markets of Serbia, Montenegro, North Macedonia, and Bosnia and Herzegovina.

AJFH and Radun have expressed their intention to 'take the regional leader to a new stage of growth.' The new investor's team already has extensive experience in the food business — Jovanovic previously founded Marbo Products (now a division of PepsiCo) and managed the holding Moji Brendovi. Bojan Radun, who has led Imlek since 2018, previously managed the confectionery producer Bambi and also owns a stake in the juice producer Nectar.

'Imlek is an amazing company with deep roots, strong brands, and exceptional people. Together with the new investor, we can unlock even greater potential and strengthen the brand's leadership,' Radun stated.

MidEuropa entered Imlek in 2014 as part of a deal to acquire Danube Foods Group, whose revenue then exceeded €400 million. The new deal symbolizes Imlek's shift to strategic management by local investors focused on long-term development and regional expansion.