The 70-store bakery-café chain is Inter Europol’s third acquisition within the last 18 months and first outside of its home market
Poland’s Inter Europol has acquired a 100% stake in Croatian bakery-café operator Pan-Pek from Enterprise Investors for an undisclosed sum.
Founded in 1992, Pan-Pek is one of Croatia’s leading bakery producers and currently operates two production facilities and 70 retail locations across its home market. The company generated revenues over €50m ($57.9m) in 2024.
In a press release, Zagreb-based Pan-Pek said the deal would not impact day-to-day operations and that its current management team, led by CEO Sandra Vojković, will remain in place. New ownership will, however, provide additional opportunities for investment in production capacity, sales and distribution reach and product development, it added.
“Our mission, as with previous acquisitions, is to expand our product offering and open new markets while preserving local traditions and retaining existing employee teams. We plan to apply the same strategy to Pan-Pek – respecting its values, work culture and customer relationships, while leveraging the opportunities offered by the scale of the Inter Europol Group’s operations,” a statement from Inter Europol read.
The deal represents Inter Europol’s first international acquisition and third portfolio addition within the last 18 months, following the purchases of Polish healthy food manufacturer Primavika in April 2024 and Warsaw-based bakery group Trimar in April 2025.
The transaction also comes just weeks after investment firm Bosqar completed its majority stake acquisition of Croatia’s largest bakery-café chain, Mlinar, for €100m ($104m). World Coffee Portal research shows that Mlinar and Pan-Pek outlets collectively make up over 70% of the total Croatian branded coffee shop market.
