CVC Capital Partners is to acquire a majority stake in a holding company behind Greece-focused dairy business Dodoni.

The deal for the majority shareholding in SI Foods Holding comes four months after CVC moved to buy Vivartia, the Greece-based food manufacturer that includes dairy company Delta among its businesses.

In 2012, cheese-to-yogurt business Dodoni was privatised by Greece and sold to SI Foods Ltd, a group of private investors that included including the partners of investment firm Lime Capital Partners. In a statement announcing the deal, CVC said Dodoni’s revenues had “almost doubled” since 2012, with around half coming from exports. The private-equity firm did not disclose figures.

SI Foods Ltd, Dodoni’s majority investor before the agreement with CVC, will continue to own a stake in the feta maker.

In the statement, CVC said SI Foods Ltd would "remain active shareholders and will continue to manage Dodoni, its subsidiaries and its operations".

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CVC added: "The partnership will leverage SIF, and Dodoni, as a platform to grow the presence in particular in the specialty cheese and related sectors through investments and possibly acquisitions in Greece and abroad."

Tom Seepers, managing partner at Lime Capital Partners and CEO of Dodoni, said: "The current shareholders and management of Dodoni remain committed to their long-term strategy of growing the company and providing stability and security to its suppliers and employees. With CVC we have secured a strong partner with a focus on sustainable value creation, who shares our focus on ESG [environmental, social and corporate governance] and can enable us to accelerate the future development of Dodoni."