Greece-based dairy group Vivartia will expand its presence in the Middle East and North Africa via a joint venture with Exeed Industries.
Vivartia’s parent group, Marfin Investment Group, said today (28 September) the deal covers all of the Greek dairy firm’s products, including Delta, Barba Stathis and Chrysi Zymi, as well as foodservice brands such as Goody’s and Everest.
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The two companies will build a EUR70m production base in Abu Dhabi. Construction is set to start in early 2013. They plan to create a business in the United Arab Emirates with sales in excess of EUR165m per year.
More generally, the firms will combine Vivartia’s product know-how with Exeed’s local market knowledge to build sales of dairy and beverages across the Middle East and much of North Africa.
“It gives us the opportunity to serve the needs of 330m new consumers,” said Vivartia’s CEO, Yannis Artinos. Marfin acquired Vivartia in 2007.
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By GlobalData
