Greece’s largest food company Vivartia told just-food today (18 July) that it is unworried that its largest shareholder is looking to buy the company outright.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Marfin Investment Group (MIG) said this morning that it intends to submit an offer for the whole of Vivartia after building its stake in the company to over 50.8%.


The announcement comes just days after MIG took a 30% interest in Vivartia, which was formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International.


A Vivartia spokesperson said MIG’s initial investment in the company was part of a “strategic alliance” and that the investment firm’s move to buy up more shares is “not hostile”.


“It’s definitely a friendly deal. The management team will remain the same because it’s a winning team,” the Vivartia spokesperson said. MIG does, however, plan to appoint five out of the nine directors to Vivartia’s board.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vivartia is market leader in a number of food categories in Greece and has operations in 29 countries. The spokesperson said the company would look to invest further outside Greece.


“We have set aside EUR400m (US$552.5m) for acquisitions under a three-year plan. We have to become a global player; Greece is a small market. Seventy-five per cent of our sales volume is in Greece and we want to get that down to 50% from international sales.”


The spokesperson added that Greek corporate law dictates that MIG has a maximum of 20 days to make a public offer for the rest of Vivartia’s shares.


Officials at MIG could not be reached for comment as just-food went to press.