Pursuant to the Zagreb Stock Exchange Rules and in line with transparent information distribution to the CIAK Group investors, as well to other participants in business and financial sector, CIAK Group hereby announces that acquisition transaction of the company Auto Milovanović d.o.o. Banja Luka, Bosnia and Hercegovina has been fully executed.
Company Auto Milovanović is one of the leading independent automotive aftermarket distributors (IAM) in Bosnia and Hercegovina, generating turnover more than 19 million EUR with 210 employees present on 20 locations throughout Bosnia and Hercegovina. Company Auto Milovanović is present for many years on the market and thanks to the highly developed logistics-distribution system, the portfolio of several thousand customers, product assortment of over 80.000 unique references of spare parts and 210 skilled employees, it is performing above the market trends and expectations with a strong potential to be the biggest IAM distributor in Bosnia and Hercegovina. Additionally, through sister companies that are also part of the transaction execution, Auto Milovanović is also present on the market of Serbia on 7 locations with 50 employees generating more than 5,5 million EUR turnover, as well as the market of North Macedonia on 2 locations with 20 employees generating close to 2 million EUR turnover.
Taking into consideration CIAK Group core business, company Auto Milovanović d.o.o. is one of the logical steps in further strengthening and portfolio growth of CIAK Group. With this transaction CIAK Group becomes one of the leading IAM companies in Bosnia and Hercegovina, strengthens further its position and branch network on the market of Serbia, as well as opens a completely new market in the IAM division – Northern Macedonia.
CIAK Group wishes a warm welcome to the new companies and new team members. We look forward to further joint development of the business, integration and synergy on the CIAK Group level.