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September 21, 2020

Owner of Greek food group Vivartia in talks with CVC Capital Partners

The owner of Vivartia has received a binding offer for the Greece-based food group from a European private-equity fund.

By Dean Best

The owner of Vivartia has received a binding offer for the Greece-based food group from Luxembourg headquartered private-equity fund CVC Capital Partners.

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  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Marfin Investment Group (MIG), the Greek investment company that purchased Vivartia in 2007, will hire the services of a financial adviser to negotiate the terms of a potential deal with CVC to ensure a  “reasonable and fair” outcome, it said in a statement.

MIG said its board of directors has granted CVC “an exclusivity period for the negotiations and the completion of the agreement” up to 6 November. No guidance to the potential deal price was provided. just-food has approached CVC for comment.

Vivartia operates in the dairy and drinks market through Delta Food, including milk and yogurts, and frozen foods via Barba Stathi, which produces vegetables, ready-to-cook meals and desserts. 

Delta also produces juice products, energy drinks, and milk and infant formulas for kids through its namesake brand.

Vivartia owns the subsidiaries Vigla Olympus (cheese), United Mill Company, a “dairy market leader in Bulgaria”, and Eurofeed Hellas (animal feed). 

The company has interests in the foodservice sector, owning chains including Goody’s and Everest.

Vivartia was formed in 2006/7 when what was then Delta Holdings merged with snack maker Chipita International. Chipita was sold off in 2010.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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