Acquisition under conditions of Hellenic Juices – Viva by Theodoropoulos and Tamvakaki

By George Lampiris

Spyros Theodoropoulos and Apostolos Tamvakakis entered into an agreement in principle for the acquisition of the company Hellenic Juices SA with a joint participation in its share capital.

According to information, Spyros Theodoropoulos will have the majority percentage, while Apostolos Tamvakakis will maintain the minority percentage.

What is pending for the finalization of the agreement

A condition for the completion of this agreement is due diligence – accounting and legal audit of the company – by the two investors. That is why both sides have reached an agreement in principle. If everything goes smoothly, the agreement is expected to be completed within the first half of the year.

The turnover of the company in the year 2020 amounted to 22.6 million euros. Profit before taxes amounted to 4.2 million euros in 2020 and after deducting the expenses of Selling, Management, Financial expenses and extraordinary results, net profits remained of 3.2 million euros.

The beginning from Larissa in 2003

Hellenic Juices, which is known in the market and under the name, Viva, was created in Larissa in 2003. It maintains four production lines with the ability to export 34,000 boxes per hour. Among the products it produces are packaged juices of orange, apple, pineapple, grapefruit, pomegranate and many more. Among other things, it cooperates with large supermarket chains in the Greek market for the production of private label juices. In fact, during 2020, it finalized the purchase of two filling machines from the company Sim Combibloc, with the aim of producing juices in a 1 liter package and the second in a 250ml package. Within 2021 the company proceeded with the installation of the two machines.