Elikonos Capital backs Greek salad maker Vezyroglou after its €12M plant build
What's the deal? ElikonosDealroom has a profile for this one. Try Dealroom → Capital has taken a minority stake in A. Vezyroglou S.A., Greece's largest producer of baby-leaf vegetables, through its Elikonos 3 S.C.A. SICAV-RAIF fund. The growth equity investment, whose value was not disclosed, will fund new greenhouses and production lines. It marks the sixth deal for Elikonos 3.
Who is Vezyroglou? Founded in 2006 by Antonis and Ioannis Vezyroglou in Alexandria, Imathia, the company produces more than 3,000 tonnes of leafy vegetables a year. It sells through major supermarket chains, supplies HoReCa customers, and exports to the Balkans.
Its edge is vertical integration — the company controls every step from sowing and harvesting to processing, packaging, and distribution.
Why now? Vezyroglou recently completed a 7,000m² facility in Schoinas, Alexandria, next to its fields, an investment of more than €12 million. The plant uses gentle-processing technology to preserve freshness and includes a water recovery system.
What's the endgame? The funds will move the company beyond baby-leaf vegetables into higher-value categories: ready-to-eat salads, washed and cut vegetables, and ready-meal solutions. The aim is a bigger presence on retail shelves.
"Control over production, a focus on freshness and quality, and the new facility provide a strong foundation for growth," said Antonis Mavridoglou, partner at Elikonos Capital, pointing to the fresh, ready-to-eat produce market.
About the backer: Elikonos Capital has operated in alternative investments since 2012 and has raised four funds totalling more than €300 million. Elikonos 3's institutional backers include the Hellenic Development Bank of InvestmentsDealroom has a profile for this one. Try Dealroom →, the European Investment Fund, and the European Bank for Reconstruction and DevelopmentDealroom has a profile for this one. Try Dealroom →.
The signal: The deal lands amid a wave of interest in packaged fresh salads. Days earlier, Sklavenitis group's GlarosDealroom has a profile for this one. Try Dealroom → took a 49% stake in EurocateringDealroom has a profile for this one. Try Dealroom →, maker of the Freskoulis brand. With both funds and large retailers now buying in, the bet is that vertically integrated production and convenience products can win shelf space in a fast-moving category.
Read more: fortunegreece.com
Image credit: derekmarkham
