ECONOMY

Green light for dairy synergies

green-light-for-dairy-synergies

The Competition Commission has approved a deal that will effectively merge dairy companies Delta and Dodoni, creating a powerful regional player in the sector.

A majority share in Dodoni will be acquired by CVC Capital Partners, a fund that already controls Vivartia, Delta’s parent company.

Dodoni’s main product is feta cheese and yogurt, while Delta is strong in the milk market. The two companies have already devised a synergy plant to jointly promote their respective products across Greece

Among dairy products, yogurt has shown the greatest growth since 2011 with strong exports, which grew from 22.4% of total production in 2010 to 41% in 2019. Strong players in this market, besides Delta and Dodoni, include FAGE, Kri-Kri, Mevgal and Olympos.

Exports of feta cheese in 2020 grew 10%, to €432 million.