Hellenic Dairies Expands with Acquisition of Dodoni
Sourse: dairynews.today
Greece's Hellenic Dairies has acquired the local dairy business Dodoni from Vivartia Group, marking the largest M&A transaction in the Greek dairy sector in recent years.
A subsidiary of Greece’s Vivartia Group has sold its dairy business Dodoni to another local peer, Hellenic Dairies. The transaction, driven by Nutrico Food Group, part of Vivartia Investments, was announced without disclosed financial terms but is pending approval by Greece's competition regulator. According to local law firm KBVL, which advised on the transaction, the deal valued at approximately €205m ($239.4m) marks a transformational move for the industry.
Upon completion, Hellenic Dairies will emerge as Greece's largest dairy company, expanding its domestic presence and international reach. Dodoni is renowned for its feta cheese products, and Hellenic Dairies aims to enhance its offerings that include dairy products, fruit juices, and soft drinks, while also exporting to over 50 countries.
Hellenic Dairies recorded a 21.3% increase in turnover reaching €600m in 2023, with a notable EBITDA climb of 44.7% to €94.1m. Vivartia Group remains a key player in Greece's food sector, posting a revenue of €930m in 2023. Private-equity firm CVC Capital Partners, which acquired Vivartia in 2020 for €175m, holds a majority stake in Dodoni, expressing interest in clarifying the investment status post-sale.
Upon completion, Hellenic Dairies will emerge as Greece's largest dairy company, expanding its domestic presence and international reach. Dodoni is renowned for its feta cheese products, and Hellenic Dairies aims to enhance its offerings that include dairy products, fruit juices, and soft drinks, while also exporting to over 50 countries.
Hellenic Dairies recorded a 21.3% increase in turnover reaching €600m in 2023, with a notable EBITDA climb of 44.7% to €94.1m. Vivartia Group remains a key player in Greece's food sector, posting a revenue of €930m in 2023. Private-equity firm CVC Capital Partners, which acquired Vivartia in 2020 for €175m, holds a majority stake in Dodoni, expressing interest in clarifying the investment status post-sale.
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