Agrokor enters ownership structure of Gulliver Travel

(Dubrovnik, 12 March 2012) On 8 March 2102, at the tourist fair ITB in Berlin, the President of the Board of the Agrokor Concern, Mr Ivan Todorić, and the President of the Board of Gulliver Travel, Mr Goran Hrnić, signed the agreement on the purchase of the smaller share in Gulliver Travel. Thus, Agrokor gained 30% ownership of Gulliver Travel, while TUI Travel PLC owns the other 70%.

This is another significant step in strengthening Gulliver Travel that has become one of the leading destination management companies (DMC) in Croatia and the region. The new structure has created the most powerful agency on one hand owned by the large TUI and on the other by the most stable Croatian company, Agrokor. Mr Goran Hrnić, the head of the company and the current management remain the same. We would like to stress that the change will not affect the business relationships with the existing partners or the planned course of business.

For Agrokor, this is the first step in creating the strategic partnership with the leading tour operator TUI Travel PLC.

The Agrokor Concern is the largest privately owned company in Croatia and one of the strongest companies in South East Europe with the consolidated turnover of 26.5 billion Kuna in 2010 and nearly 35,000 employees. The Agrokor Concern is primarily in food and beverage production and distribution as well as retail. It encompasses over 20 companies in Croatia and the region, some of them being the largest Croatian producers. More about Agrokor at www.agrokor.hr.