By George Lampiris
Melissa – Kikizas made a move that puts it in olive oil, which acquires the company for the production of extra virgin olive oil, Terra Creta, based in Chania, Crete.
We remind you that the company from Crete previously belongs to the IOGR group of the businessman Giannis Gryllos, who maintains Skyexpress but also activity in the ground service of the airports with Swissport as well as in the hotel sector with hotels that he owns.
Terra Creta ships its products to 43 countries and cooperates with more than 100 retail chains, with a simultaneous presence in the field of travel retail at airports and ports (travel retail).
Its turnover in 2020 is 19 million euros
In 2020, based on its annual financial statements, the company’s turnover amounted to 19.08 million euros, compared to 17.37 million euros in the previous year. Also, the results of 2020 before taxes show profits of 2.37 million euros, compared to 1.81 million euros in the previous year, recording an increase of 31%. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 2.67 million euros, compared to 2.23 million euros in the previous year, an increase of 19.57%.
In this way, Melissa enters more intensively in the retail networks of olive oil in Greece, where it maintains cooperation for a number of years with AB Vassilopoulos, as well as abroad. This is a move that is expected to create significant upheaval in the domestic market, as a large player in pasta with consistent food activity is thus expanding its business.
According to the relevant announcement: “when in 2012 Terra Creta was bought by the Business Group of Giannis Grylos (today IOGR) it was a company with debts of around 6 million euros and a turnover that did not exceed 5 million per year. Today, Terra Creta is a healthy company that supports the Cretan economy and especially the producers of Crete. “In Greece and abroad. It is an internationally renowned company, with over 200 awards and distinctions for the quality of its products and the principles of sustainability that it follows.”
Source From: Capital
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