The thriving Greek F&B industry as well as the superior quality of products hailing from Greece is sparking global interest in the sector’s companies. The latest investment news come from Spain and Ángel Camacho, which has recently acquired a 15% stake in Greek olive oil producer Mani Foods, based in Kalamata. After the deal is completed, the Greek company will be renamed Mani Camacho Foods. According to the Spanish company, the acquisition of the minority package in Mani Foods “will allow Ángel Camacho Alimentos to offer its customers a wide variety of olives with different Mediterranean roots”.
As Ángel Camacho, General Manager of the Spanish company explained, the demand for Greek olives in the world’s major markets is constantly growing and “their top-tier quality and large variety is recognized around the globe. We have been buying Greek olives to fulfil the needs of our international clients for many years now and this particular acquisition will help us become a global supplier of olives, capable of providing complete solutions without having to resort to an external supplier. This acquisition will make our company the world’s only supplier of olives with its own packaging facilities in all the major olive oil producing countries”.
About Ángel Camacho Alimentos
Ángel Camacho, owner of the brands Fragata, Susaron and Mario, was established in 1897 in Morón de la Frontera (Seville), with the production of olive oil. Since then, the family business has led to the creation of a group of internationally recognized businesses, with production, packaging and marketing activities for olives, olive oils and a series of other specialities of Mediterranean and other origins. The company’s turnover this year is expected to exceed €200 million.
Ángel Camacho Alimentos in numbers*
- €206.9 million in total sales
- €128,5 million in olive sales (93% packaged products)
- 284 suppliers (25% of them are cooperatives)
- 795 employees
*Numbers for the year 2015
About Mani Foods
Mani Foods, is a family business, founded in 1990. Based in Kalamata, it operates in the areas of table olives and olive oil production, packaging and exports. The company has been constantly growing, increasing its exporting activity year by year, and is currently shipping its products to more than 30 countries, in five continents. In 2007, the headquarters, warehouses and production areas were relocated in brand new, modern and well-equipped facilities.
Mani Foods in numbers*
- €8.25 million turnover
- €65,988 pre-tax profits
- €43,955 profit after tax