Acquisitions by international companies often have a strong impact on the local market as well. Such is the case with a recent major takeover in the construction industry.
Swiss giant Holcim, which has long been present in Serbia, recently acquired the company behind some of the best-known construction products on the market – Xella Group. As it turns out, the deal also made Holcim the owner of a construction materials company from Apatin, Rapid.
Among the notices published yesterday by the Belgrade Stock Exchange was one concerning a significant shareholding in Rapid. Holcim has become the owner of 238,747 shares in the Apatin-based company, representing 73.15 per cent of the voting rights. The explanation states that the acquisition stems from a share purchase agreement for the companies LSF10 XL Investments and LSF10 XL GP, concluded in October last year. The buyer was Holcim.
By acquiring Xella Group, Holcim also took over ten subsidiaries. Among them is Xella Srbija Vreoci, which held 238,747 shares in Rapid.
Change of ownership last year
Rapid, a construction materials manufacturer, has been producing bricks for six decades and has operated as a public joint-stock company since 1991. Its core business is the production of silicate facing bricks. At the end of last year, the company was owned by 1,532 shareholders holding a total of 326,372 shares.
“In February 2021, a change in the company’s ownership structure occurred following the purchase by Xella Srbija d.o.o. Vreoci of 70 per cent of the shares previously held by individual minority shareholders. During 2022, Xella Srbija d.o.o. Vreoci acquired an additional 3.15 per cent of the company’s shares for 3.1 million dinars,” according to the notes accompanying the financial statements.
The company employs 30 workers. During the past year, it generated approximately €2.5 million in operating revenue. It ended the year with a loss of nearly €100,000.
The acquisition
According to media reports, Holcim paid €1.85 billion for the acquisition. Xella is the company behind several well-known brands in the construction materials sector and generates annual sales of around €1 billion.
Holcim is also well established in Serbia, where it produces cement, concrete and aggregates. The company owns the Beočin Cement Factory and expanded its operations in 2022 through the acquisition of Teko Mining and the Podbukovi quarry, followed by the acquisition of the Jazovnik quarry in January 2025.
(Forbes Serbia, 25.06.2026)
https://forbes.n1info.rs/biznis/igra-velikih-imena-stigla-i-do-apatina-rapid-u-novim-rukama/