Spyros Theodoropoulos: He is building the next big food group

Of George Lampiris

The businessman and former strongman of Chipita, Spyros Theodoropoulos, is proceeding with the gradual “construction” of a multidimensional food group based on a well-thought-out and quickly implemented plan. Steps in this direction have already begun to take the path of implementation, as the start was made after the sale of Chipita to Mondelez International, when the businessman acquired full control of Nika. We remind you that based on the agreement signed by the Olayan group with Spyros Theodoropoulos on Monday, January 3, the two sides decided that all the shares held by the Olayan group in Nikas through its interest company, Competrol Establishment, were transferred to Spyros Thelos.

However, the very mobile businessman lately, did not just stand there. Coming to fulfill the plan he did not implement in the past at Vivartia, he is currently taking successive steps and his blows are focused on business entities that enjoy extreme financial health.

The move to acquire Greek Juices in Larissa with A. Tamvakakis

The first example in this puzzle was the case of Hellenic Juices SA. The company from Larissa with a turnover of 22.6 million euros in 2020 and pre-tax profits of 3.2 million euros is known in the market for Viva products and private label juices, Belo. In addition, it maintains a zero loan burden. The joint investment with Apostolos Tamvakakis in this company shows the way for other collaborations.

The intense gossip about the discussions with ION

This was followed by intense gossip about the businessman’s advanced contacts with the ION chocolate industry, which he hastened to calm down with a relevant denial announcement issued by the Kotsiopoulos family’s company. The information states that the two sides have been holding a series of discussions and negotiations lately with the aim of acquiring the chocolate industry by Spyros Theodoropoulos.

The acquisition of the companies Edessa and Ambrosia

Before the ink on the ION issue dried up, it became known that Mr. Theodoropoulos was proceeding with two more moves for the acquisition of the companies Ambrosia and Edesma, something that he announced to Capital.gr, while a relevant announcement followed that confirmed the specific development.

Edessa and Ambrosia belong to the same businessmen, namely the brothers Dimitris and Katerina Hatzigeorgiou and Eva and Maria Mavridou.

As far as Edessa is concerned, it is active in the production of cold cuts and is the oldest company in this field as it was founded in 1914 by Smyrnios, Dimitris Ganiotis, in the area of ​​the old port of Thessaloniki. With this move, Spyros Theodoropoulos acquires another strong pole in the field of meat industry – apart from Nikas – based this time in Northern Greece, a move that is expected to strategically strengthen this activity due to its geographical location and proximity. which maintains to the Balkan markets but also in terms of logistics and distribution in the domestic market.

Regarding the Edema during the last published year that ended on December 31, 2020, the sales 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 investment crescent or the crescent of acquisitions and discussions in this direction on the part of the entrepreneur does not stop here. Information indicates that other moves in the field of vegan products are imminent, reinforcing a different dietary direction and following the trend of the time.

The Wonderplant field

In all of the above let us not forget his involvement in the hydroponic tomato growing company, Wonderplant, which is a step of the entrepreneur leaning on the primary sector. In this field is visible the possibility that is projected for this company to be extended to Western Macedonia given the ongoing demilitarization of the area and the possibility to lease land of 30,000 acres for use in the primary sector based on the Plan for Fair Transition and Development Macedonia and Megalopolis.

In fact, Wonderplant is currently investing a total of 30 million euros in order to add an additional 70 acres of hydroponic cultivation to the existing facilities of Drama, which will bring the total arable area in glass greenhouses to 230 acres.

Finally, MEVGAL is one of the recent participations of the businessman in the dairy industry, which was realized before the official completion of the acquisition of Chipita with the joint acquisition of shares by Theodoropoulos and the daughter of the founder of the Macedonian company, Mary Hatzakou. at that time the Vivartia group. In this case, however, one would say that he maintains a minor role, with the responsibility of the management and the majority of the shares being under the roof of the Hatzakos family.