Croatia’s transactional and legal landscape is heating up, with a strong pre-summer push across multiple sectors and a growing alignment with international standards, according to Gospic Plazina Stojs Partner Matea Gospic Plazina, who reports that this environment is driving fresh momentum in capital markets, M&A, and the increasingly layered world of family wealth management.
"The market is genuinely buzzing right now, we’re seeing a significant push to close transactions before the summer break, and there’s a palpable sense of momentum across multiple sectors," Gospic Plazina begins. "Croatia’s legal and business environment is maturing, with increasing alignment to global standards, which is attracting both domestic and international activity."
Specifically, Gospic Plazina stresses that 2025 has marked a renewed momentum in Croatia’s capital markets. "After several years of limited activity, there is finally a positive shift. The Croatian government, together with the EBRD, introduced a Strategic Framework for Capital Market Development aimed at strengthening regional integration, improving corporate governance, digitalization, and boosting market participation." According to her, "this is particularly significant for a market like ours, where traditional bank financing has long been dominant. What we’re now seeing is a deliberate move toward diversified financing sources, which is creating more investment opportunities and encouraging broader capital market participation."
Moreover, Gospic Plazina reports that IPOs are making a comeback, with names like Zito Grupa and ING-GRAD leading the way. "More companies are also increasingly turning to the debt markets through corporate bond issuances. This rising trust in the debt capital markets is a very welcome development and a signal of a more sophisticated financial landscape in the making." Zeroing in on the M&A market, Gospic Plazina reports that it has "remained active, especially in the mid-market segment. Notable transactions such as Podravka’s acquisition of Fortenova’s agricultural division and Bosqar’s acquisition of Mlinar have made headlines, but beyond those, sectors such as energy, infrastructure, retail, and food continue to drive steady deal flow."
Gospic Plazina stresses the growing involvement of strategic investors and, increasingly, family offices. "The latter reflects a broader global pattern, wealth consolidation, intergenerational transfers, and the sale of family-owned businesses – all feeding into heightened activity from family offices across the region. This shift is fundamentally changing deal dynamics and bringing new capital into the market."
Expanding on this family wealth trend, Gospic Plazina says that it has introduced a whole new layer of legal complexity, "especially around estate and succession planning. As more wealth accumulates and changes hands, we’re seeing a rise in demand for structures that support long-term preservation and governance. In Croatia, there have historically been gaps in this area, but we’re now seeing real momentum to address them." Crucially, she points out that there are ongoing discussions between private sector stakeholders and the Croatian government about introducing legal frameworks to support the creation of private foundations. "That would be a game-changer in terms of wealth structuring and long-term philanthropic or legacy planning. It’s still in the early stages, but it is a promising development that we’re watching closely," Gospic Plazina concludes.
