Zagrebačka pivovara d.o.o. is the largest producer and distributor od beer in Croatia. Its business reach has also been seen outside of the boarders through import and exports of goods in which it contributes to state budget. It is a company that has been employing an increasing number of people every year and whose yearly profits have been growing each year. Zagrebačka pivovara generates one third of the total revenues of the brewing industry in Croatia by itself, which makes it an apsolute leader of the industry. It has got several employer of the year awards and advertiser of the year awards. It also has a large customer base. Therefore, this paper will provide an overview of all individual elements of its business, provide explanations of each of them and of successful business operation. The macroeconomic environment will be analysed, as well as position of the company in the industry and main strategic factors that enable fulfillment of business objectives. The analysis of competitive advantages will provide reasons for leader position that Zagrebačka pivovara holds in the industry. Theoretically elaborated items will be supported with detailed analysis of official financial statements of the company and financial indicators. They will provide more detailed information about company structure and profitability. Finally, a brief insight into the business of the two of the closest competitors of Zagrebačka pivovara will be provided. Those are Heineken Hrvatska d.o.o. and Carlsberg Croatia d.o.o. The main elements of business of that strategic group will be briefly compared in order to get a clearer insight into the functioning of the industry and the importance that Zagrebačka pivovara has for it.