The Spanish group Aceitunas Guadalquivir (AG) Olives Group has entered the share capital of Parthenon, the oldest branded table olive company in Greece.
According to “N” sources, the Spanish company acquired an active percentage, which ensures their presence on the company’s board of directors, however, the majority stake remains with the Georgoudis family. Georgoudis S.A. – Parthenon was founded in 1897 and is active in premium special-culture olives.
It has facilities in Volos and employs over 100 people. The company collaborates with more than 500 producers throughout Greece and is the first company to develop the contract farming program in the country. At the same time, it is the largest organic olive production company. With a strongly extroverted character, as 98% of production is directed to international markets, Georgoudis has managed to build a strong and recognizable brand on international shelves, a fact that attracted the interest of the Spanish company.
Development strategy
“N” sources stated that the company’s five-year business plan aims to triple sales, as well as to expand collaborations with producers for all domestic varieties, especially in Halkidiki. In this direction, the collaboration with AG Olives is expected to further strengthen the penetration of the Parthenon brand in foreign markets. The collaboration, which is assessed as having high added value, aims to expand the investment program in the production unit in Volos, strengthening production capacity, improving efficiency, while at the same time promoting regional development and agricultural production.
