DELTA is re-approaching the domestic ice cream market after 17 years of “absence” following the acquisition of the “Cold Sin” company.
The company, based in Lamia, is the official national distributor of Mars Hellas and General Mills (Häagen-Dazs) ice creams and the exclusive representative of Sammontana SPA for Greece and Cyprus, while it also produces Cold Sin ice creams through third parties. The company is a member of the Giannitsis group and according to the data of last year’s balance sheet, it shows dynamic net revenues of 7.4 million euros and pre-tax profits of 802 thousand euros, while equity amounts to 924,188 euros.
As far as the price of the acquisition is concerned, it has not been disclosed, but according to “Naftemporiki” sources the proposal accepted by Cold Sin was particularly attractive.
It should be noted that the acquisition agreement only concerns the acquisition by the dairy industry of the network of 60-80 dealers and about 12-13 thousand refrigerators, while it does not include the privately owned facilities or any other assets and liabilities of the remaining activities of the Giannitsis group that operate as independent and separate entities.
Through this new acquisition, Delta expands its portfolio with strong ice cream brands, thereby regaining a presence in the domestic ice cream market, which is estimated at 250 million euros.
Both the increased tourist flow and the trend to consume ice cream throughout the year make the category particularly attractive and in this context Delta seeks to further strengthen the distribution network of Cold Sin’s products in the domestic market, especially in the small retail market.
