Advanced discussions on the acquisition of ION by Spyros Theodoropoulos

By George Lampiris

According to his information, ION is close to acquiring the chocolate industry Capital.gr Spyros Theodoropoulos. This information comes from market executives with knowledge of developments on the subject and states that the businessman is very close to an agreement with the head of ION, Tina Kotsiopoulou.

Spyros Theodoropoulos seeks in some way to create a group similar to the one he tried to set up together with Dimitris Daskalopoulos during the collaboration of the two men in 2005, where Delta and Chipita joined forces to create Vivartia, then the largest Greek food group with displacement in foreign markets. According to the same information, Mr. Theodoropoulos is expected to proceed in this case through synergies with other businessmen, with whom he has collaborated in the past. Stavros Nendos of Select, Michalis Arabatzis of Hellenic Dough and Achilleas Folias are not excluded from the frame.

For reasons of historical record, we remind that in 1988 Kraft Jacobs Sushard acquired 24.5% of ION, but a percentage which was regained ten years later by its main shareholders and especially its then major shareholder, Ioannis Kotsiopoulos.

The company’s turnover at 118.9 million euros

In 2020, ION Group had a turnover of 118.9 million euros, compared to 118.84 million euros in 2019. Respectively, pre-tax profits were 11.69 million euros, from 14.26 million euros respectively in 2019. Of the total sales of the company, an amount of 102.8 million euros for 2020 corresponded to sales of the company in the Greek market, compared to 102.4 million euros in 2019. Exports resulted in sales of 11 million euros for 2020, from 11.18 million euros in 2019.

We remind you that the company also maintains a subsidiary production unit in Sofia, Bulgaria. This subsidiary strengthens the company’s presence in the Russian market, while it also produces Nucrema products.

The deal with Hellenic Juices SA preceded.

If the discussions have a positive ending, this will be another move by the businessman after the announcement about the acquisition of the company Hellenic Juices SA. – Viva based in Larissa. In this case we will remember that the completion of due diligence is pending, which will bear the final signatures.

The strong performance of chocolate in the midst of a pandemic

Chocolate was a strong consumer pole in 2020 and in the midst of a pandemic as 8.66 million kilos of chocolate were consumed in our country from 7.36 million kilos in 2019, an increase of 17.7% according to data from the measurement company IRI. In terms of value, the sales of chocolate amounted to 103.26 million euros, from 90.58 million euros in 2019, an increase of 14%.