In agreement acquisition Four trademarks of olive oil was reached by the company MINERVA Olive Oil and Food SA and Flora Food Group.
In particular, Minerva has agreed with Flora Food Greece to acquire the well -known brands of Altis, Elniti, Flora and Sol and now the approval of the acquisition by principles of competition is expected.
This new collaboration extends the portfolio of Minerva products in the olive oil sector and further strengthens its presence in the market.
It is worth noting that Minerva has a 120 -year presence and is one of the country’s largest food companies. It has signals that have significant market shares in its presence sectors (olive oil, tomato products, sauces, cheese, margarine, butter, vinegar, etc.), such as Minerva, the village, the Pummaro, the top, the fast, the Brava and the Savoi.
According to the latest published 2023 figures, Minerva’s turnover (turnover) increased by 4.9%, while EBITDA operating profitability rose by 3.4%. At the same time, Minerva’s exports, which cover 15% of total sales, reached € 10.4 million.
Flora Food Greece, for its part, issued a statement confirming the sale of Altis, Elniti, Flora and Sol
Flora Food Greece announcement
Flora Food Greece, a member of the Flora Food Group, confirms the sale of Altis and Cali Olive Oil trademarks, the Flora Corn Signal and the SOL SOL SOL brand in Minerva. The transfer of the trademarks is subject to the approval of the competition principles.
The sale is in line with Flora Food’s strategic decision to further support the development of its basic portfolio.
Joseph Vithoulkas, Country Director for Greece and Cyprus of Flora Food Greece, said: “The sale of these brands is part of a strategic decision to focus on the long -term development of our basic spreads and the categories of non -dairy products (creams and cheeses) as well as liquid margarine for cooking. We continue our growth course in Greece steadily, with our iconic brands Vitam, Becel, ProActiv, Pedine and Super Fresco at the center of our strategy. We maintain our strong presence in Greece, remaining committed to the production, distribution and sale of products both in the domestic market and in Southeast Europe. “