Further growth of Nelt Brands

As part of our strategic choice to continue and accelerate Nelt Brands’ growth, we are happy to announce several changes aimed at expanding and strengthening our brand’s organization. The investment to acquire 100% of the Baby Food Factory ownership completed in January 2021 signals our belief in the long-term potential of this business and overall in the potential and attractiveness of developing a more substantial brand portfolio. The changes we are announcing today are aimed at continuing and further accelerating the growth and expansion that we have seen over the last two years, culminating with Nutrino becoming the #1 baby food brand in Serbia in the January 2021 Nielsen Market Share report, as well as Neoplanta having a record year in 2020.

We are happy to announce the following organizational changes:

Effective April 1st, Mr. Nenad Nikolovski is appointed CEO of Baby Food Factory. Nenad has successfully collaborated with Nelt Group for almost 20 years and has had a wide variety of management roles at L’Oreal and Procter & Gamble in the region. With his excellent track record and extensive sales experience in key account and distributor management, Nenad will work on accelerating the pace of international growth and expansion in new markets of BFF.

Effective April 1st, Mrs. Milena Cvetkovic is Appointed Operations Director of Baby Food Factory. Milena has done an excellent job steering the Baby Food factory over the last two years, making material improvements in results, processes, and ways of working, and transitioning the factory to Nelt Holding ownership. We are thankful for her contribution so far and look forward to her being an essential pillar of the next phase of BFF development and growth.

Effective April 1st, Mrs. Milica Djukic is appointed Marketing Director of Baby Food Factory, reporting to Nenad Nikolovski, CEO of Baby Food Factory. Milica has had a successful career in Procter and Gamble, where she has had a regional Senior Brand Manager role covering several markets in the region of southeast Europe. Given her Baby Care category experience working on a leading brand like Pampers, she brings valuable experience and expertise to Baby Food Factory. Milica will be responsible for developing consumer-relevant communications and innovations and the overall brand positioning of the Baby Food Factory brands.

Effective April 1st, Mrs. Natalija Nedeljkovic is appointed Brand Operations Director of Baby Food Factory. Natalija comes with a successful career and background from Japan Tobacco International and Procter and Gamble, where she has held a regional Senior Brand Manager role covering several markets in the region of southeast Europe. Given her experience in both ATL and trade marketing, Milica will be responsible for increasing the efficiency and effectiveness of the ATL and BTL investments of both the Baby Food Factory and Neoplanta. Natalija will report to Nenad Nikolovski, CEO of Baby Food Factory.

Effective March 15th, Mrs. Marina Guzijan is appointed Market Insights Manager of Baby Food Factory. Marina comes with a successful career and background from Coca-Cola Hellenic and Mondelez International, where she held a Sales Operations role for their East Adriatic Markets. Given her Market Research and Sales Analytics, and Reporting experience, Marina will be responsible for providing market insights and analytics for the Baby Food Factory and Neoplanta. Marina will report to Milica Djukic, Marketing Director of Baby Food Factory.

Milan Karaklić takes over the position of Project Manager for the integration of the Baby Premium brand.

Marija Ilić’s position is BFF Legal Affairs Manager and she will report directly to Nenad Nikolovski, FDH Executive Director.