Ideal Holdings has reached an agreement with Frozen Holdings for the acquisition of 100% of the company Barba Stathis S.A., as well as 90% of Halvatzis Makedoniki S.A., a subsidiary of Barba Stathis.
Upon completion of the transaction, the company will pay 130 million euros in cash for the acquisition of 100% of the share capital of Barba Stathis.
The transaction is subject to the approval of the Competition Commission and is expected to be completed within the next few months.
“Moving forward with one of the largest acquisitions of the last years in the Greek food market, worth 130 million euros, Ideal Holdings aspires to contribute to the further sustainable development of Barba Stathis, a leading company in the sector,” the company said and added:
“By expanding its diversified portfolio of holdings with an additional sector that has high resilience and strong growth prospects, the acquisition of Barba Stathis is part of Ideal Holdings’ proven successful investment strategy that focuses on investing in and subsequently developing Greek companies with a dominant market position, strong management, sound financials and significant growth prospects.”
