Dodoni: The plan of new acquisitions and the bet on halloumi

By George Lampiris

New acquisitions and other products, not purely dairy but which will belong to the wider food sector, will soon be in the center of the company, with a typical example being the recent production of cracker snacks with PDO feta and halloumi, in collaboration with Unismack, which maintains 60% of the shares, acquisition product. This was stated by the CEO of the company, Michalis Panagiotakis, speaking from the podium of The Dairy Conference. “We are looking to do something similar and similar in other markets and other products,” he announced.

The construction of a second factory for halloumi in Cyprus has been completed

Dodoni at the same time, seeing the prospects that halloumi has internationally, being one of the main export products of the Cypriot economy, recently completed the creation of a second factory in Cyprus for the production of this cheese. It should be noted that this product is currently exported to about 55 countries, to which the feta of the continental dairy industry is directed. Through this investment, the company managed to double its production dynamics. In fact, in order to understand the importance of halloumi as a product for the company’s turnover, its sales represent a percentage that amounts to about 40% of the total turnover of the company. This was in fact the reason why the company invested in the production of this product. In fact, the growth of halloumi after the entry of Dodoni in the Cypriot market, creating its first production unit six years ago was found to move then at the level of + 25% -30% in sales per year, a fact that significantly favored the development of the company.

According to the latest available data of the Statistical Service of Cyprus, halloumi during the months from January to August 2021 increased its export potential to 199.28 million euros, with a rate of change of 20.17%. It should be noted that the corresponding sales in the eight months of 2020 were 193.87 million euros.

In 2020, Dodoni recorded a turnover at group level of 138 million euros, moving upwards by 28% compared to 2019. The increase in sales is mainly a result of the 100% consolidation of the operation of Dodoni Cyprus, which now contributes significantly in the total sales of the Group as mentioned above.

Vegetable cheese substitute in Europe with the prospect of entering Greece

In the field of vegetable products substitutes for cheese, Dodoni has already brought to market such a product, which resembles white cheese and comes from plant ingredients. This product is already making its way to the big supermarkets of Central Europe, with the prospect of its introduction in the Greek market in the near future, something that Michalis Panagiotakis mentioned. In fact, he estimated that all dairies in the future will have such a course that will make them from what they are today – dairy processing companies – into multidimensional food companies.

Regarding plant foods in Greece, based on data presented at the same conference by Eleni Giannakouli, executive of the measurement company, IRI, their value in the first nine months of 2021 reached 50 million euros, with the category moving upwards by 22.5% in terms of sales value. In 2016 the value of this category was only 10 million euros.