New acquisition of CVC in food

By George Lampiris

He made another acquisition according to information at his disposal Capital.gr, CVC Capital Partners, which is also related to the cheese industry in Greece. After the acquisition of Delta through the acquisition of the Vivartia Holdings group, but also the recent move to acquire a majority stake in the dairy industry of Epirus, Dodoni, this time the investment orientation of the fund targeted the company BoD. Gatenio and son SA This is a company that, for those who know the market, has been active for a number of years in the import of cheese products in Greece and consequently in their marketing as well as in the import of milk from foreign countries, which then channels to its industrial enterprises. dairy industry, with the aim of producing cheese products from countries such as Ireland, the Netherlands, Germany and France.

Additional benefits for the fund’s activity in the dairy industry

According to knowledgeable sources, this company can give CVC a further cost improvement, expanding the existing activities in the dairy industry where it maintains a strong presence already through Dodoni and Delta. Practically in terms of logistics, the cost savings for the fund can occur due to the increase in the moving volume of products sold with the addition of new codes that it did not have in the market, which can further enhance the dynamics and shares of its business interests. In a communication we had with the vice president of the company, Maureen Gatenio, he himself refused to make any comment on the matter.

Absolutely healthy business without borrowing

Examining the financial data of the Board. Gatenio, what one will find is that it is a highly healthy and profitable business entity. Specifically, at the end of 2020, the company’s turnover amounted to 60.78 million euros, from 48.52 million euros in 2019, an increase of 25.29%. EBITDA moved to 4.07 million euros from 3.97 million euros in the previous year, while net profit after taxes increased to 3.03 million euros from 2.98 million euros in 2019. In addition the company does not show any burden of loan obligations.

The company is also active in the import of herbal products such as for example Joya drinks, which among other things are available in the stores of Sklavenitis or AB Vassilopoulos. Among the products it imports are products such as Regilait – powdered milk made in France by the company Saint Martin Belle Roche on behalf of the Board. Gatenio. However, a key part of the activity is related to the import of sheep’s and cow’s milk for the domestic industry.

CVC holds $ 125 billion in assets under management, $ 165 billion in committed funds to invest and a global network of 24 local offices: 15 across Europe and the Americas and nine in the Asia-Pacific region.