By George Lampiris
New data brings to the operation of the Barba Stathis group and the company Alesis (Chrysi Zymi), the completion of the transaction that concerns the acquisition of a total percentage of 75% by Vivartia, both in the company Elliniki Zymi founded by the businessman, Michalis Arambatzis, and in Golden Dough. It is noted that both frozen dough companies are subsidiaries of the Barba Stathis group. For his part, Michalis Arambatzis will maintain a 25% stake in both companies, while he also holds a minority stake in the company Ioniki Sfoliata, which is also based in Northern Greece as well as Hellenic Zymi.
Internal movements to fulfill the goals of the two dough companies
According to information, it has already become known to the Vivartia group that the two companies that are active in the field of frozen dough, both Golden Dough and Greek Dough, will be commercially managed by Hellenic Dough, to which the former deputy managing director was transferred. and communication and marketing director of the Barba Stathis group, Agapi Papadopoulou, who will be responsible in commercial and marketing level for the management of the overall portfolio of pastries maintained by the Vivartia group under its wider umbrella. Respectively, the sales of the doughs will be made through the network of Barba Stathis. The responsibility of the commercial things for the two dough companies passes to Hellenic Dough, where the key factor of the new balances will be Michalis Arabatzis, a person with extensive and thorough knowledge of the specific market.
The establishment of the three new holding companies
As part of the moves that are finally being implemented, the Vivartia group recently proceeded with the operational restructuring of its activities with the establishment of three new companies, Frozen Holdings, Food Services Holdings and Dairy Holdings with activity in the field of frozen, catering and dairy respectively. In essence, Frozen Holdings belongs to the frozen sector, ie Barba Stathis, Chrysi Zymi and Elliniki Dough. Respectively, Food Services Holdings owns the brands of the catering sector, Goody’s, Everest, La Pasteria and Dairy Holdings owns the activities related to the dairy sector, namely those of Delta and Vigla. Vivartia is a 100% shareholder in all three start-ups.
The changes in the bonds Barba Stathis and Delta
In the context of the establishment of the three new companies, the management of Vivartia also modified the pledge of shares in favor of the lending banks, compared to the bond loan signed in July 2021 by Delta amounting to 131.6 million euros. Part of the loan is intended to refinance Delta’s existing Common Bond Loan and an additional € 50 million to finance Vivartia through a Delta-to-Vivartia loan. Vivartia in turn will discount the existing Joint Bond Loan in its name. An amendment agreement was also signed with the banks in the case of Barba Stathis, due to her affiliation with the new company, Frozen Holdings. This bond has a value of 99 million euros.
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Source From: Capital
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