Mlinar, operating under parent company SEE Bakery International, is Croatia’s leading producer of breads, pastries, and snacks. The company runs a vertically integrated platform that spans milling, production, and a branded retail bakery network in Croatia, Serbia, Slovenia, and Bosnia and Herzegovina, while also exporting to more than 20 markets. Management is focusing on organic growth and bolt-on acquisitions to consolidate the fragmented Central, Southern, and Eastern European bakery sector, which is forecast to grow 8-10% annually through 2030. Planned upgrades will double production capacity within three years and introduce protein-enriched and clean-label product lines. In addition, the company intends to implement energy-efficiency projects to mitigate volatile grain costs and adopt inclusive HR programs for female migrant workers to align with EU standards. The strategy is backed by majority owner Bosqar Invest, which purchased a 67% indirect stake for €100 million earlier in 2025, and is aimed at scaling Mlinar into a regional bakery champion.

Total raised

$58M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2026