11 June 2007 - Bosnian bakery and food producer Klas has teamed up with local flour mill Husinski Rudar to acquire a 57.7% stake in baker Pekare.
In an announcement to the Sarajevo Stock Exchange, Klas said it had paid 22 Bosnian marka (11.25 euro) per Pekare share. 4 Pekare shareholders, owning a combined number of 26,007 shares, agreed to sell their shares to Klas and Husinski Rudar.
In 2006, Pekare recorded a second annual net loss in profit with 901,039 marka (461,000 euro) in 2006. In 2005, losses amounted to 501,816 marka (257,000 euro), according to the statement.
In April, FLEXNEWS reported that Klas signed a 4-year co-operation agreement with Italian distribution company Gapar allowing Klas to sell its products in Italy.
Klas, based in Sarajevo, employs 1,400 people.