The role of the business strategy is to direct the development of the business entity towards the achievement of the strategic vision and goals. However, its implementation encounters a number of challenges from the business environment that affect the planned results and the strategic position of the business entity. Company Kraš d.d. is no exception. He faced the significant impact of the corona virus pandemic and changes in the ownership structure in Kraš d.d. Therefore, the main goal of the research was to determine how the adaptation of the business strategy of the company Kraš during the corona virus pandemic and the change in the ownership structure affects the growth and development of the company Kraš d.d. In order to achieve the main goal of the research and solve the problem, data and information were collected from secondary (relevant literature and documentation of Kraš d.d.) and primary (using interviews with strategic decision makers in Kraš, and the sample size is six respondents) sources. The research results show that the confectionery industry is characterized by a constant need to follow trends and consumer needs. Furthermore, the confectionery industry in Croatia is characterized by outdated technologies and a lack of investment in technology modernization, which forces companies within this industry to independently allocate funds to achieve the aforementioned goals. According to the results of the interviews, the current trends are, in order of importance: business adaptation to the pandemic period, product marketing, transparency regarding food safety, ease of shopping, new and interesting food flavors, selection of product packaging and healthy food without sugar. The existing strategic position of the company Kraš d.d. is stable with great potential for growth and progress on the market. Given the circumstances in the environment (pandemic and change in ownership structure), a concentration strategy was chosen. For further research, it is suggested to expand the research to the population of users of Kraš products.