Boston, MA -- (SBWIRE) -- 06/04/2014 -- There are no immediate prospects for an improvement in the outlook for consumer spending in Croatia during 2014, with consumption set to be hindered by high unemployment, weak bank lending and low wage growth over the coming quarters. We forecast Croatia's economy to contract by 0.3% in 2014, with concomitant effects on the food, drink and mass grocery retail industry.

Headline Industry Data (local currency)

- Total food consumption growth in 2014: +1.3% year-on-year (y-o-y); compound annual growth rate (CAGR) to 2018: +2.4%.
- Per capita food consumption growth in 2014: +1.7% y-o-y; CAGR to 2018 +2.8%.
- Alcoholic drinks sales growth in 2014: +1.6% y-o-y; CAGR to 2018: +3.0%.
- Soft drinks sales growth in 2014: +3.7% y-o-y; CAGR to 2018: +4.3%.
- Mass grocery retail sales growth in 2014: +3.0% y-o-y; CAGR to 2018: +3.5%.

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Key Company Trends

Agrokor Looks To Revise Mercator Offer: In early 2014 it was reported that mass grocery retailer Agrokor was looking to lower its offer price for Mercator, valuing the 53% stake in the Slovenian retailer at EUR220mn, which is EUR20mn less than outlined in the contract signed in summer 2013. As part of the lower price, Agrokor would also secure a capital injection for Mercator.

Atlantic Grupa Secures Unilever Distribution Rights: In late 2013, Atlantic Grupa took over the Croatian and Slovenian distribution of Unilever products. Atlantic Grupa will handle brands including Knorr, Bertolli and Hellmann's in the two countries. The contract, taking into account annual sales in both markets, is worth a total of EUR32mn, and the new partnership reaffirms Atlantic Grupa's status as a leading fastmoving consumer goods distributor in the region.

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