A subsidiary of Greece’s Vivartia Group has bought the dairy enterprise Dodoni to a different native peer Hellenic Dairies.
The transaction was initiated by Nutrico Meals Group, which is a part of the dad or mum firm’s Vivartia Investments automobile, in response to a short assertion from Vivartia Group.
Vivartia Group didn’t reveal the monetary phrases of the cope with Hellenic Dairies however stated the acquisition is topic to approval by the competitors regulator in Greece.
Native regulation agency KBVL, which suggested Hellenic Dairies on the transaction for feta cheese maker Dodoni, supplied extra element.
KBVL stated in a LinkedIn submit: “That is the most important M&A transaction within the Greek dairy sector within the current years, with a complete deal worth of roughly €205m ($239.4m), and marks a transformational second for the business.
“Upon completion, Hellenic Dairies will grow to be the most important dairy firm in Greece, enhancing its home footprint and increasing its world attain.”
Simply Meals requested Trikala-headquartered Hellenic Dairies for touch upon the acquisition however had not acquired a response on the time of writing.
The corporate produces a variety of dairy merchandise reminiscent of cheese and feta, together with yogurt, butter and milk. Hellenic Dairies additionally provides fruit juices and smooth drinks.
Dodoni, in the meantime, is thought for its feta cheese, yogurts and halloumi. Arrange in 1963 in Loannina, a part of the Epirus area, the corporate additionally has a vegan Plant’d vary primarily based on coconut oil.
It sells into 50 nations, largely in Europe but in addition additional afield to the US and Australia, in response to the Dodoni web site.
Within the yr to the top of December 2023, the most recent monetary knowledge out there on its web site reveals Hellenic Dairies booked an annual turnover of €600m, a 21.3% improve from the earlier 12 months.
EBITDA climbed 44.7% to €94.1m, whereas web revenue after tax was up 3.4% at €27.3m.
Vivartia Group claims to be the most important meals firm in Greece, posting income of €930m in 2023. It has Delta Meals beneath its wing, which provides dairy merchandise reminiscent of milk and yogurt, together with juices and iced tea.
Hellenic Dough can be a part of the group, producing each branded and private-label frozen bakery merchandise for retail. It additionally caters to the foodservice channel.
Personal-equity agency CVC Capital Companions acquired Vivartia Group in 2020 for €175m. The investor additionally then took a majority curiosity in Dodoni the next yr.
Simply Meals has requested CVC Capital to make clear the standing of these investments within the context of the Dodoni sale to Hellenic Dairies.
A subsidiary of Greece’s Vivartia Group has bought the dairy enterprise Dodoni to a different native peer Hellenic Dairies.
The transaction was initiated by Nutrico Meals Group, which is a part of the dad or mum firm’s Vivartia Investments automobile, in response to a short assertion from Vivartia Group.
Vivartia Group didn’t reveal the monetary phrases of the cope with Hellenic Dairies however stated the acquisition is topic to approval by the competitors regulator in Greece.
Native regulation agency KBVL, which suggested Hellenic Dairies on the transaction for feta cheese maker Dodoni, supplied extra element.
KBVL stated in a LinkedIn submit: “That is the most important M&A transaction within the Greek dairy sector within the current years, with a complete deal worth of roughly €205m ($239.4m), and marks a transformational second for the business.
“Upon completion, Hellenic Dairies will grow to be the most important dairy firm in Greece, enhancing its home footprint and increasing its world attain.”
Simply Meals requested Trikala-headquartered Hellenic Dairies for touch upon the acquisition however had not acquired a response on the time of writing.
The corporate produces a variety of dairy merchandise reminiscent of cheese and feta, together with yogurt, butter and milk. Hellenic Dairies additionally provides fruit juices and smooth drinks.
Dodoni, in the meantime, is thought for its feta cheese, yogurts and halloumi. Arrange in 1963 in Loannina, a part of the Epirus area, the corporate additionally has a vegan Plant’d vary primarily based on coconut oil.
It sells into 50 nations, largely in Europe but in addition additional afield to the US and Australia, in response to the Dodoni web site.
Within the yr to the top of December 2023, the most recent monetary knowledge out there on its web site reveals Hellenic Dairies booked an annual turnover of €600m, a 21.3% improve from the earlier 12 months.
EBITDA climbed 44.7% to €94.1m, whereas web revenue after tax was up 3.4% at €27.3m.
Vivartia Group claims to be the most important meals firm in Greece, posting income of €930m in 2023. It has Delta Meals beneath its wing, which provides dairy merchandise reminiscent of milk and yogurt, together with juices and iced tea.
Hellenic Dough can be a part of the group, producing each branded and private-label frozen bakery merchandise for retail. It additionally caters to the foodservice channel.
Personal-equity agency CVC Capital Companions acquired Vivartia Group in 2020 for €175m. The investor additionally then took a majority curiosity in Dodoni the next yr.
Simply Meals has requested CVC Capital to make clear the standing of these investments within the context of the Dodoni sale to Hellenic Dairies.
