This articleneeds additional citations forverification.(May 2021) |
Vivartia Holding S.A.(Greek:Vivartia Συμμετοχών Α.Ε.) is a food production conglomerate brand inGreece.Its head office is inSpata,Attica.[3]
 | |
| Company type | S.A |
|---|---|
| Industry | Food and beverage |
| Founded | 1968 |
| Headquarters | , |
Area served | Europe,CentralandNorth America |
Key people | Panagiotis Throuvalas (Chairman) Athanasios Papanicolaou (CEO) |
| Revenue | 591.919 million € (2021) |
| (926) thousand € (2021) | |
| 331 thousand € (2021) | |
| Owner | CVC Capital Partners(92.1%)[1] |
Number of employees | 5,127 (2021)[2] |
| Subsidiaries | DELTA |
| Website | http:// vivartia / |
Vivartia was formed by the merger ofDelta Holding S.A.andMechelany International S.A.This merger was the result of a process led byJustin Jenk,the then CEO of Delta Holding, Spyridon Theodoropoulos, majority shareholder of Chipita andDimitris Daskalopoulos,majority shareholder of Delta. The merged entity became the largest food group in Greece.[4]The merger was the culmination of a highly successful turnaround and improvement strategy put in place by Jenk in 2003. The major shareholder of Vivartia was the Daskalopoulos family until a 76.89% share was sold to theMarfin Investment Group.[citation needed]
Today,[when?]Vivartia has 27 facilities, 13,500 employees, a commercial presence in 30 states and an estimated turnover of 1.3 billion euros for 2006.[citation needed]
Chipitawas sold[5]to Spyros Theodoropoulos and SaudiOlayan Groupin 2010.[6]
History
editVivartia is the result of the merger of Delta Holding S.A., which included Delta Dairy Products,Goody's,Flocaféand Mechelany foods as well as a dozen other major Greek food and beverages related corporations of the nutritions field, with the snack and bakery business lines ofChipita.Its transition deal name was “Brand Co” and was officially changed to Vivartia in May 2006 when the merger was completed. It created the largest food group in Greece, one of the top ten companies in Greece and the 35th largest food group in Europe.[7][better source needed]The merger was voted "Deal of the Year 2006".[citation needed]After the merger was complete, the company changed its name to Vivartia S.A.
During the next 18 months the transformation strategy was completed with further acquisitions, disposals and restructurings. Jenk left Vivartia in 2006[citation needed]andDaskalopoulosin 2007,[8]when the majority of Vivartia's share were acquired by Marfin Investment Group.
It now consists of various divisions aimed at different aspects of the field. These are:
Domestic activities
editIn 2005 it won PDO designation for feta cheese.[9]
Vivartia has been subject to accusations of collusion. In December 2007 Vivartia was initially found guilty[10]of colluding with other milk producers (Nestlé,Fage,Mevgaland Olympos) to fix milk prices in Greece to the disadvantage of the consumer.[11]A contested decision as milk prices are regulated by theEuropean Union(and Greek authorities) as well as the unlawful actions of certain Greek civil servants.[12]Management have never been charged with wrongdoing. Yet the State's Prosecuting agent investigating this case against Vivartia and Mevgal, Panayotis Adamopoulos, was jailed for bribery and extortion attempts against the companies.[13]
International expansion
edit
In theBalkans,Vivartia is active inSerbiaandBulgariaand is interested in tapping the rising consumer demand elsewhere in the region and inRussia.
Outside of Europe Vivartia is also active inEgyptandMexico.
In 2007, Vivartia plans to expand intoorganic farminginRomaniaand into fast-food chain franchising inSerbia.
In 2008, Vivartia boughtUSbiscuit and snack-producer Nonni's for $320 million as part of its expansion plans, along with its brandsNonni'sandNew York StyleandOld London.[14]The acquisition also ensured an entry of Vivartia's7 Dayscroissant products to the US market, to be followed by other products at a later stage.[15]In that same year, Vivartia also announced plans to open a new plant inYadkinvilleto complement its six existing US plants.[16][17]As of March 2010, Vivartia now produces and sells7-DaysCroissants in the United States.[18]
In 2014, Vivartia announced a cooperation withGranarolofor market access to France and Italy. This arrangement reflects a continuation of the original strategy put in place in 2003.[19]
References
edit- ^"Με 600 εκατ. έκλεισε η εξαγορά της Vivartia".
- ^Profiles. Vivarta Holding SAdnb[dead link]
- ^"Contact"(Archive). Vivartia. Retrieved on 6 June 2014. -Address in Greek(Archived2014-12-30 at theWayback Machine).
- ^"Creation of largest food group in Greece".
- ^our historyvivartia
- ^ΣΠ. ΘΕΟΔΩΡΟΠΟΥΛΟΣ Και πάλι μπίζνες με την Chipita(in Greek).To Vima
- ^PR Newswire (20 December 2005)."Creation of the Largest Company in the Food Sector in Greece, a Power-House of Leading Food Brands, With Significant Scale in the European Market".
- ^Gleadell, Colin (14 June 2010)."Dimitris Daskalopoulos Interview".The Telegraph.
- ^Newman, Matthe w (25 October 2005)."Greece Wins Exclusive Use of Feta Name at EU Court".Bloomberg.
- ^"Greek dairy companies keep prices high".Greek Reporter.23 November 2011.
- ^"Nestle, Vivartia fined in Greek milk price probe".
- ^"Greece faces tough struggle to fight resurgent organized crime".The Free Library.1 November 2006.
- ^"Senior Greek officials convicted in bribe scandal".Dalje.13 April 2009.
- ^Staff (March 7, 2008)."Greece's Vivartia to buy Nonni's American biscuit firm".RetrievedMarch 2,2010.
- ^Eyre, Charlotte (March 7, 2010)."US bakery market beckons for Vivartia".Bakeryandsnacks.RetrievedMarch 2,2010.
- ^Staff (December 29, 2008)."Vivartia Plans for New Plant".Free Press Release.RetrievedMarch 2,2010.
- ^Staff (August 29, 2009)."Bakery hopes to help Yadkin: Nonni's confirms plan to create jobs".tradingmarkets.RetrievedMarch 2,2010.
- ^Tsoulos, Platonas (March 4, 2010)."Vivartia: Χαμηλότερες και το 2010 αναμένονται οι πωλήσεις"(in Greek).Naftemporiki.RetrievedMarch 7,2010.
- ^Askew, Katy."Vivaratia eyes France and Italy with Granarolo tie up".Just Food.