By Ján Pallo,Jana Liptáková
Copyright sme
The Slovak Spectator, in cooperation with FinStat and the Institute of Family Business (IRB), has collected financial data from more than 1,300 local businesses that together generated €17.5 billion in revenues in 2024, for its annual rankings of the country’s largest family firms.
Of these firms, 135 provided comprehensive data in detailed questionnaires.
Among the findings of the survey are that most family businesses in Slovakia operate in the trade sector, with a significant portion involved in the sale and maintenance of motor vehicles.
There is an average of 3.5 family members involved in each business, and families in the Bratislava region show the strongest appetite for entrepreneurship, while those in the east – in Prešov and Košice Regions – are the least active.
The survey’s ranking of the largest family businesses in the country in 2024 was little changed from the previous year, although there was one major move: I.D.C. Holding, producer of the iconic wafer brands Horalka and Mila, dropped out of the top 10 after its sole owner, Pavol Jakubec, sold it to Ireland’s Valeo Foods Group, which is owned by the US global investment firm Bain Capital. It was one of the most significant transactions in Slovakia in the past year.
In terms of revenues, the top six firms in the ranking continued to grow, while the last four shrank.
First four places
GGT, part of Ivan KmotrÃk’s Grafobal Group, remains the largest family-owned business in Slovakia. In 2024, its revenues rose by €24 million year on year, while profits more than doubled to €2.38 million. Most of its income is from cigarette and tobacco wholesale; the company also runs the Tabak Press stationery chain.
