Changes occurring in the food industry
The food and beverage sector is witnessing an increase in business agreements, with new mergers and acquisitions expected in the coming months. The improvements in the economy have fuelled this momentum, with large conglomerates diversifying their portfolios and focusing on expanding exports. The involvement of investment funds in the industry has also played a crucial role in driving this surge of activity.
One of the most significant deals involves the potential acquisition of Dodoni by Hellenic Dairies and the expansion of the Masoutis chain through the purchase of the Kritikos supermarket chain. Hellenic Dairies has initiated a meticulous due diligence process at Dodoni, scheduled for completion by the end of March. The decision to make an offer will depend on the outcome of this evaluation. Numerous domestic and international companies have shown interest in Dodoni since last October, although no concrete offers have been put forth thus far.
The ongoing negotiations between Masoutis and Kritikos are expected to bring about notable changes in the organized food retail sector. A successful deal would elevate Masoutis to fourth or even third place in the grocery market based on revenue. This move is particularly crucial for Masoutis as it seeks to strengthen its presence in Attica and the Peloponnese swiftly, leveraging Kritikos’ extensive network in these regions due to its acquisition of local chains in recent years.
Simultaneously, discussions are underway between Galaxias and the Ioannina chain of Papageorgiou, which operates six stores in the northwestern Greek prefecture. The completion of the agreement between Aqua Bridge and the prominent fish farming company Avramar is lagging behind due to sluggish progress in the necessary procedures.
The evolving landscape of the food market is also influenced by the increasing presence of large-scale retailers, exemplified by Sklavenitis planning a mall-like supermarket complex. These developments highlight the robust activity taking place in the food and beverage industry, driven by favorable economic conditions, strategic expansions by key players, and heightened investor interest. As the sector continues to evolve, more transformative agreements and strategic partnerships are expected in the near future, reshaping the competitive environment and market dynamics in the food market.