SMERemediumCap and Inspiring Earth groups are joining forces to create a new, powerful group in the Cretan olive oil market.
In particular, with the establishment of a joint company which will acquire the majority share of the Companies “Latzimas SA”, “Siteia Oils-LASITIA SA” and “Olympian Green International SA”, a new powerful group in olive oil products is created.
Significant synergies will be formed both in terms of cost formation and in the flexible commercial policy of a wide range of products.
The new group has multi-year agreements that ensure access to the highest quality and most important olive oil productions of Crete (Rethymnon, Sitia) and the Peloponnese.
The main goal of the new group is the expansion of the branded label in the Greek and European markets, but also the further development in the markets of North America (USA, Canada), South America (Brazil), Asia (Japan) and of Oceania, which are also the regions with the world’s largest imports of olive oil.
The total investment amounts to 10 million euros. The new funds and additional bank financing will support a growth commercial policy to achieve the group’s strategic goals. These goals concern its geographical spread, the development of complementary products and its verticalization with partnerships and investments in the target markets and companies to increase turnover and profitability.
