Major investments were characteristic of that phase, with a primary goal of modernizing the brewing process and enlarging production capacities.

[8] The company began transferring into the private ownership in 1991, and in 2003 it became a part of the international InterBrew network which merged in 2005 in InBev corporation.

Except Serbia, the group operated on the markets of Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania and Slovakia.

On 3 April 2012, Molson Coors brewing company has completed its previously announced acquisition of StarBev for approximately €2.65 billion.

[10][11] This way, Molson Coors took over the regional brewing group Starbev, as part of which Apatin Brewery in Serbia has been operating.

Jelen is the leading beer brand on the Serbian market, and has its share in Bosnia and Herzegovina, Montenegro and Macedonia.