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Participation agreement of the company ‘Hellenic Dairies’ in the share capital of ‘Kourousia’

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Participation agreement of the company ‘Hellenic Dairies’ in the share capital of ‘Kourousia’

The signing of an agreement for its participation in the share capital of the historical dairy industry “Kourousii” in Cyprus has been announced by the company “Hellenic Dairies SA”.

The agreement includes the acquisition of 49% of the share capital of “Kourousia”, with management rights and provision for the acquisition of the remaining shares in a second year.

It is noted that the agreement was made between “N. Th. Kourousiis Limited” and its subsidiary Hellenic Dairies “OLYMPUS FOODS (CYPRUS) LTD”. It is a continuation of the successful commercial activity of “Hellenic Dairies” in the Cypriot market as well as the start of the construction of the new state-of-the-art Halloumi factory in Nicosia which aims to expand the group’s product portfolio as well as to support livestock farming and the economy on the island.

The dairy products industry N. Th. Kourousiis Ltd was founded in 1959 in Vatyli Famagusta by Ioannis Kourousiis as a family business. After the Turkish invasion, the company was reactivated in 1974 in Kofinou, in the province of Larnaca, where it is housed until today. It produces an important range of dairy and cheese products, from 100% fresh Cypriot milk, through modern production processes.

The agreement is subject to the approval of the Competition Commission of the Republic of Cyprus.

Source: AMPE

Source: Capital

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