Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Companies / Greece

Vivartia Offloads Bakery And Confectionery Business As It Looks To Deleverage

April 2010 | Company News Alert

Greek investment fund Marfin Investment Group (MIG) has announced that its food business Vivartia is to sell its bakery and confectionery business unit. MIG will sell the unit for EUR730mn to a group led by Saudi Arabian investment group Olayan and Vivartia's current CEO Spyros Theodoropoulos. MIG has said that proceeds from the sale will allow it to deleverage as it looks to adapt to difficulties in the Greek economic environment. However, the disposal will leave it with less of a stranglehold over the Greek food sector and is likely to lead to increased competition which could ultimately have a

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