Friday November 21, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Local food giant seals major deal

 Vivartia agrees to create consortium with Abu Dhabi firm for expansion to Middle East, North Africa

By Dimitra Manifava

Marfin Investment Group, the owner of food company Vivartia, signed on Thursday a major business deal with Abu Dhabi firm Exeed Industries for the expansion of the Greek enterprise to the Middle East, North Africa and the Persian Gulf through the creation of a consortium aimed at productive and commercial activity.

The agreement highlights Vivartia’s strategy to shift its focus outside Greece’s borders and even beyond the eurozone. Its next target is said to be the Far East, as according to sources the group is already in advanced negotiations for signing a similar agreement in at least one country in that region as well.

The consortium with Exeed Industries will initially concern exporting Vivartia products to the following countries: the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Bahrain, Qatar, Egypt, Libya, Tunisia, Algeria, Morocco, Iraq and Iran.

The construction of a production plant in Abu Dhabi will start in early 2013 with the aim of completion in the second half of the following year. This is a 70-million-euro investment to be located on a 160,000-square meter plot that has already been selected. The UAE plant will produce a broad range of well-known products in the dairy and fruit juice sectors.

The Vivartia-Exeed cooperation will include all of Vivartia’s product line -- Delta, Barba Stathis and Chrisi Zimi -- as well as all brands of the group in the food catering sector -- Goody’s, Everest, LaPasteria and Flocafe.

The aim of the consortium will be to evolve into the leader in the region, which has a dynamic market of more than 330 million consumers and sales of more than 165 million euros per year.

Exeed Industries is a wholly owned subsidiary of Abu Dhabi’s National Holding and is involved in construction materials, textiles and agriculture.

Vivartia is also continuing its expansion to Eastern Europe, having signed franchising deals for its Goody’s, Everest and Flocafe chains in Albania, the Former Yugoslav Republic of Macedonia, Kosovo, Belarus, Ukraine and Kazakhstan.

The first outlets will open in Albania and Belarus in the coming weeks.

ekathimerini.com , Thursday September 27, 2012 (22:59)  
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Sony chooses Piraeus as its entry point to Europe
Image of artwork showing humans in blender taken out of schoolbooks
A photograph of a controversial work by a Japanese artist showing people in a blender will be removed from a primary school physics textbook, the Education Ministry said on Friday. The paint...
Simitis supports Venizelos over new movement
Former Prime Minister Costas Simitis on Friday backed PASOK leader Evangelos Venizelos’s proposal to create a new center-left party with the Socialists at its heart. The two men met a day af...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japan’s image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Give Greece a chance
Greece's creditors are testing the country's endurance - again. If they keep pressing, they could split the euro area apart, which would be a disaster for them as much as for Greece. They ne...
COMMENTARY
‘Who lost Greece?’
If, by unhappy chance, Greece’s efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Image of artwork showing humans in blender taken out of schoolbooks
2. More cash for banks with same papers
3. Simitis supports Venizelos over new movement
4. Growth to fuel rise in revenues
5. Commercial property draws interest from investors
6. Sony chooses Piraeus as its entry point to Europe
more news
Today
This Week
1. Give Greece a chance
2. Cosco’s Greek unit adds multinational rail-freight client
3. No breakthrough after marathon conference call
4. Israel backs East Med pipeline project
5. Greece says EU/IMF lenders disagree with 2015 budget deficit estimate
6. Education Ministry mulls over introducing Albanian language classes
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Constructively disrupting the Greek start-up ecosystem: What will the impact be?
4. Anti-junta uprising anniversary to be marked amid tight security
5. Biden heads to Istanbul amid tension over Cyprus EEZ violation
6. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.