Croatian company Bosqar Invest aims to expand BPO operations in Africa through M&A

Croatia’s Bosqar Invest, a diversified holding group listed on the Zagreb Stock Exchange, is looking to extend its reach into Africa by acquiring businesses in the business process outsourcing (BPO) sector. According to Stjepan Oreskovic, the company’s founder and majority owner, the goal is to capitalize on local talent and stimulate further growth through this expansion effort.

In a recent interview with SeeNews, Oreskovic disclosed that Bosqar Invest is actively pursuing potential BPO acquisition targets in Africa by utilizing its own mergers and acquisitions (M&A) team. He highlighted the abundance of talented individuals in the region and emphasized the company’s strategic focus on markets with promising prospects for growth, vibrant economies, and robust talent pools.

“We have an outstanding M&A team and a continuous pipeline of potential targets,” Oreskovic mentioned. “The number of talented people residing in Africa is truly remarkable.” The company’s approach involves seeking out partnerships that align with their values and vision, rather than seeking total control over an acquired company. This strategy has yielded successful outcomes for all of their acquisitions thus far.

The recent acquisitions made by Bosqar Invest have significantly bolstered its financial performance. In the first quarter of 2025, the group reported an EBITDA of €11 million ($12.4 million), representing a 27% increase compared to the previous year. This growth is attributed to investments made and acquisitions completed in the past year, positioning the company for further market consolidation and the formation of new partnerships.

Among its recent endeavors, the business process and technology outsourcing (BPTO) division, operating under the Mplus brand, sealed deals to acquire over 96% of Czech BPO provider Conectart and complete ownership of Romanian BPO firm Valoris Center. Oreskovic confirmed that the transaction in Romania is in progress through standard procedures, awaiting regulatory clearance.

Expanding its presence beyond the BPO sector, Bosqar Invest has ventured into the food industry by acquiring a 67% indirect stake in bakery conglomerate Mlinar for €100 million ($112.7 million) and a 51% share in Slovenian agri-food group Panvita for €50 million ($56.4 million). This diversification complements the company’s existing operations across Europe and other sectors, such as tourism, real estate, and education, with a growing presence in Turkey and Georgia.

Through a conglomerate of partnerships and a deliberate approach to acquisitions, Bosqar Invest continues to position itself for strategic growth, with an emphasis on fostering partnerships with shared values and vision for long-term success in new markets.