Barba Stathis, a Greece-based agri-food company and subsidiary of food giant Vivartia, has recently acquired an 80% stake in local peer Halvatzis Makedoniki, specializing in producing and distributing steamed vegetables, ready-to-eat salads, fruit salads, and other products.
The acquisition is described as a significant move that will bring expanded growth and opportunities for both companies. Leonidas Halvatzis, CEO of Halvatzis Makedoniki, expressed optimism about the acquisition, stating, “In an environment of increased prospects and security, our employees, our team of farmers, and our partners will now have new opportunities for growth and personal progress within a more robust company.”
In 2022, Halvatzis Makedoniki recorded a turnover of €12.3m, signaling growth from the previous year. The company experienced a rise in pre-tax profits and profit after tax, highlighting its financial strength and stability.
The acquisition aligns with Barba Stathis’ commitment to investing in the Greek primary sector and the national economy. Nikitas Pothoulakis, CEO of Barba Stathis, emphasized the significance of the acquisition, describing Halvatzis Makedoniki as a business with a “significant presence in the agri-food sector.” Pothoulakis highlighted the company’s ongoing commitment to the food and beverage industry in Greece.
The agri-food business was founded in 1972 and operates a large-scale factory in the Central Macedonia area of Greece. Barba Stathis and Vivartia’s portfolio includes baked goods sold under the Cryssi Zymi brand, reinforcing its position in the market.
Vivartia, one of the largest food businesses in Greece, was acquired by CVC Capital Partners in 2020. The acquisition reflects the company’s belief in the growth potential and prospects of the Greek primary sector and the national economy.
This acquisition positions Barba Stathis and Halvatzis Makedoniki for continued growth and success in the food and beverage industry, aligning with current industry trends and consumer demands. It represents a strategic move that will contribute to the overall development of the Greek economy.
