Hellenic Dairies acquired 49% of Cypriot dairy Kouroushis
The Thessalian Hellenic Dairies group of the Sarantis brothers has an option for the acquisition of the remaining shares at a later time
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The Thessalian Hellenic Dairies group of Sarantis brothers announced the signing of an agreement for its participation in the share capital of the historic “Kouroushis” dairy industry in Cyprus.
The agreement includes the acquisition of 49% of the share capital of “Kouroushis”, with management rights and provision for the acquisition of the remaining shares at a later time.
According to the announcement, the agreement was made between “N. Th. Kourousiis Limited” and its subsidiary Hellenic Dairies “OLYMPUS FOODS (CYPRUS) LTD”.
It is a continuation of the successful commercial activity of Hellenic Dairies in the Cyprus market, but also the start of the construction of the new state-of-the-art halloumi factory in Nicosia, which aims to expand the group’s product portfolio as well as to support livestock farming and the economy on the island, as noted.
The dairy products industry N. Th. Kouroushis Ltd was founded in 1959 in Vatyli Famagusta by Ioanni Kouroushis as a family business. After the Turkish invasion, the company was reactivated in 1974 in Kofinou, in the province of Larnaca, where it is housed until today. It produces an important range of dairy and cheese products, from 100% fresh Cypriot milk, through modern production processes.
It is noted that the agreement is subject to the approval of the Competition Commission of the Republic of Cyprus.
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