The acquisition in Greece and the plan of bottling for the Cypriot …
Of George Lampiris
The Cypriot group Fotiadis sees a further scope of its activity in the Greek market, which recently proceeded with the acquisition of 100% of the shares of the microbrewery, Siris, which is based in Serres.
At the same time, the strategic pillar for the expansion of its dynamics in other sectors is the purchase of bottled water in our country.
In this direction, the group is in search of the acquisition of a company based in Greece and activity in this sector, something that the head of the group, Pavlos Fotiadis said, speaking to journalists.
First investment in production in Greece
The acquisition of Siris, which produces beers under the Voreia brand, is the first investment in production in Greece. The aim is for the near future period of the further development of the Serrai microbrewery, with Pavlos Fotiadis, stating that this sector has new data for the beer market worldwide.
The group in Greece operates through its subsidiary Beverage World in the field of distribution of alcoholic and non-alcoholic beverages, coffee and tea.
Areas in which he also has a presence are those of real estate through the subsidiary Emerald Developments, where he has already developed residential projects in our country and specifically in Glyfada. Another pillar of business activity is the insurance industry.
The consolidated turnover of the group, which is present in five countries including Cyprus (Greece, Romania, Slovenia, Croatia), amounts to 400 million euros.
Regarding the turnover of the subsidiary Beverage World in Greece, in 2021 it amounted to 50 million euros, from 40 million euros in 2020, while in 2022 it will not move to the levels of 2021.
Gruppo Campari alcoholic beverages such as Apleton, Grand Marnier, Wild Turkey and Crodino are distributed in Greece. She sells Lavazza coffee in the cafe, while she also has Heraclea tea in her portfolio.
The founding of the group is marked in 1942 in Cyprus, when its founder, Fotos Fotiadis, acquired a small brewery in Megalonisos, starting the production of beer, Leon, which was the first to be produced in the country.
In 1969 he opened a new brewery and today is a producer and distributor of Carlsberg in the Cypriot market, while maintaining water bottling activity.
The history of Siris Microbrewery began a few years ago with its founder Giannis Marmarellis, who remains in the company as a consultant for the next two years based on the agreement signed between the two parties and with the prospect of expanding cooperation with Fotiadis group.
G. Marmarelis: Why I sold the company to the Fotiadis group
The founder of Siris microbrewery, Giannis Marmarelis, noted that the reason why he sold his business to the Fotiadis group, was because “I wanted to ensure a level of viability for the company and its future.
I always believed that in order to continue to exist, an alliance with a great player would have to emerge. “Remaining a small independent company with such small shares was like chasing our tail.”