Vivartia taking yogurt to Japan
Vivartia, Greece’s largest food group, has agreed to provide Japanese dairy firm Morinaga with technical know-how on producing Greek-style yogurt in a deal that may provide a platform for further expansion in the Asian country, the Greek company said yesterday. Morinaga Milk Industry Co Ltd, the second-largest yogurt producer in Japan, will pay an initial fee to Vivartia and then ongoing commission based on the yogurt’s future sales, according to a statement issued by Vivartia. No financial details concerning the deal were provided. «This is a platform for the entry of Greek product types and the creation of investment opportunities in the Japanese market, which is expanding at a fast pace,» said Spyros Theodoropoulos, Vivartia’s managing director. Vivartia, majority-owned by Marfin Investment Group, holds about 30 percent of the Greek food market. Its shares fell 1.34 percent on the Athens bourse yesterday to 22.06 euros, bringing its market capitalization to some 1.8 billion euros. The company is present in 30 countries located in North and South America, Asia and Africa, among other regions.
