Pivovarna Lasko is looking for capital investment to help expand its footprint

Pivovarna Lasko is looking for capital investment to help expand its footprint

Pivovarna Laško, a Slovenia-based brewer and soft drinks producer, has confirmed it remains up for sale and is looking for the buyer to spend at least EUR75m (US$96m) on the business. 

The company formally announced the search for an investor in JulyAccording to Reuters last week, around 30 investors have signed non-disclosure agreements to bid for the company by the end of this month. Among them are reportedly Heineken, Anadolu Efes, Carlsberg and Anheuser-Busch InBev

A Pivovarna Laško spokesperson declined to confirm the number of potential investors in the running when contacted by just-drinks today.

The successful investor would initially take around a third of the company's share. Under Slovenian law, it would then be required to table a full bid for the company. 

Around 37% of Lasko, which also owns soft drinks and bottled water brands, is in the hands of state-owned banks and companies while the remainder is held by private investors, according to Reuters.

A group strategy, revealed last week, said cash from the capital investment, divestments, and “current positive results” will be mostly used for paying down debt.  

The company added that a “significant portion” of cash will go towards new investments, increasing technology and energy efficiency and improving logistics.

The group said it will strengthen its presence in Bosnia and Herzgovina, Croatia, Italy, Kosovo and Serbia, and enter select new markets. It is aiming to be among the top three beer producers in south-east Europe by 2025.