Nikos Karamouzis (SMERemediumCap) and Konstantinos Antonopoulos (Inspiring Earth) have announced the creation of a company, focusing on olive oil and its subproducts. The two sides set up a joint company, which proceeds with a triple acquisition, acquiring the majority stakes package (majority shareholders) of:
- Latzimas S.A.
- Sitia Olive Oils – LASITIA
- Olympian Green International
The aim is, through the association of the companies, to create significant synergies, both in terms of cost formation and in the flexible commercial policy of a wide range of products. As mentioned by the two shareholders, the new group has multi-year agreements, which ensure access to the best quality olive oil productions of Crete (Rethymno, Sitia) and the Peloponnese.
Eye on exports & Investments
The main objective 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 Oceania, which are also the regions with the largest imports of olive oil worldwide.
The total investment amounts to €10 million, which will be invested – together with bank loans – in the geographical expansion of the group, the development of complementary products and the verticalization with partnerships and investments in the target markets and companies to increase turnover and profitability.
As for the management of the new group, it will be undertaken by the executives of Inspiring Earth, with Konstantinos Antonopoulos as the CEO. At the same time, it was decided that the founding executives of Latzimas and executives of Lasitia will remain in the new structure.
TO MANAGEMENT
The Inspiring Earth executives, with Konstantinos Antonopoulos as CEO, will have the management of the new group. At the same time, it was decided that the founding executives of Latzimas and executives of EAS Sitia will remain in the new company.