BUSINESS

Three suitors are lined up for Minerva

TAGS: Business

The suitors of Greek food company Minerva are a leading pasta producer, the world’s number 1 producer of stuffed vine leaves, and a fund that has invested in many local companies.

Kathimerini understands that the short list of candidates for Minerva includes Melissa-Kikizas, Palirria and Greek-owned fund Deca Investments. Others that had been examining the possibility of buying out Minerva included businesses in the cheese industry and other funds.

The three suitors will now have until the end of the month or early July at the latest to submit their binding offers for the Greek firm.

Although Minerva is mainly involved in the processing and standardization of olive oil, none of the companies interested in buying have anything to do with that field.

Melissa-Kikizas is one of Greece’s oldest pasta companies, founded in 1947, but its portfolio also includes tomato sauces, canned fruit and vegetables, among others. Palirria, which produces ready-to-eat meals, employs over 1,000 staff in Greece and Bulgaria, but is currently in a restructuring phase after the entry of VNK Capital. Deca has already invested in firms such as Lariplast, Viva Wallet and Adam Pack, among others.

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