The Cypriot business group Photos Photiades enters the Greek beer market with the acquisition of the Serrai microbrewery Siris, thus expanding the product portfolio of the Greek subsidiary of Beverage World, which will undertake the exclusive distribution.
According to Pavlos Fotiadis, addressing the press, he is open to new acquisitions, clarifying that at this stage there is nothing to consider, while emphasizing the microbrewery sector and its prospects. The Cypriot group is active in the production and distribution of Carslberg beer in Cyprus but also in the distribution of alcoholic and non-alcoholic beverages.
The founder of the Siris microbrewery, Giannis Marmarellis, referring to the relevant acquisition, said that Siris, which has been producing fresh and unpasteurized beers since 2014, and in particular the premium craft VOREIA beer, maintains its autonomy and focuses on innovation. Giannis Marmarellis, as announced, remains at Siris as a consultant of the Fotiadis group in sales throughout the range of microbreweries and in the sector of the Siris brand.
Emphasis was placed on the effects of the pandemic and the war in Ukraine. As it was pointed out, they have contributed decisively to create an extremely serious issue in the supply chain, not only in Greece, with the consequences in the production of beer being significant. As mentioned, the malt market from 440 euros per tonne today stands at 630 euros and the offers for the end of the year range at 950 euros per tonne. At the same time, the cost of plastic has increased by 50% and cardboard by 200%.
The Photos Photiades group was founded in 1942 and today is one of the largest and most dynamically growing Cypriot business organizations, with a presence outside Cyprus, in Greece, Romania, Croatia and Slovenia.
In Greece, the subsidiary of the Beverage World group distributes Gruppo Campari alcohol such as Apleton, Grand Marnier, Wild Turkey, Crodino, as well as Lavazza coffee and Heraclea tea. The company has proceeded with average revaluations of 5-6%, while it recently renewed its cooperation with Lavazza until 2031.
SOURCE: AMPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
