S. Theodoropoulos: We are buying Food and Ambrosia

LAST UPDATE 12:17

By George Lampiris

The businessman Spyros Theodoropoulos is proceeding with the acquisition of the companies Edesma and Ambrosia, as he confirmed to Capital.gr. In fact, it is a matter of time before there is a relevant announcement on this issue within the day.

Edessa and Ambrosia belong to the same businessmen, namely the Hatzigeorgiou family. The company is active in the production of cold cuts.

Regarding the food in the last published year that ended on December 31, 2020, the sales of the company amounted to 43.03 million euros compared to 42.74 in the previous year, showing an increase of 0.68%. The gross result was 6.86 million euros in 2020 compared to 6.33 million euros in 2019. Net profit in 2020 amounted to 505.8 thousand euros compared to 34.47 thousand euros in 2019.

Ambrosia is active in ready-made packaged salads. In the fiscal year 2020, its sales were 11.16 million euros from 11.34 million euros, gross profit was 609.9 thousand euros from 532.4 thousand euros in 2019 and net results amounted to profits of 123, 77 thousand euros from 29.34 thousand euros.

The official announcement:

Spyros Theodoropoulos acquires the companies “Edesma” and “Ambrosia”

The businessman Mr. Spyros Theodoropoulos proceeds to the acquisition of the companies “Edesma” and “Ambrosia” after an agreement with the shareholders of the two companies.

The company “Edesma” is a historic company and is the first company that made cold cuts in Greece and one of the oldest operating in the food industry.

“Ambrosia” holds a very important position in the market, producing ready meals and salads and is an extension of the activities of the company “Edesma”.

The companies make sales of 45 million euros per year.

The two sides signed a binding transfer agreement, which is expected to be completed in April 2022.