Approval and dated Competition Commission of Bulgaria got my redemption United Dairy Company from “Greek Dairy Products” (better known as “Olympus”) with a decision made a few days ago, namely on January 12, 2023. At the same time, work is underway on the construction of a plant for the production of halloumi and other dairy products in Cyprus, with the aim of commissioning during the first quarter of 2024, although the original goal was to begin operation during 2023. With these two steps, the dairy industry in Trikala, which has a leading position in the Greek market, further strengthens its presence outside of Greece, a presence that has been a common practice for many years. , also includes production.

Recall that in September last year, it was announced the acquisition of United Milk Company, a company owned by DELTA. With this move, Hellenic Dairies, which has been operating in Bulgaria since 2003 with TYRBUL SA, with a plant that mainly produces yellow cheeses, is strengthening its production base in the neighboring region, as well as its product portfolio. UMC is headquartered in Plovdiv (also known by its Greek name Philippopolis), the second largest city in Bulgaria. The company produces fresh milk, yogurt and cheese products. It operates both locally and internationally with sales in the US, Australia, Lebanon, Canada and Russia. Decades old, UMC was created through the merger of several manufacturing units acquired by Global Finance in 2003 and sold to Vivartia in 2007. UMC sales in 2021 amounted to 52.5 million euros, before taxes, interest and depreciation – 5.15 million euros and profit before tax up to 1.65 million euros.

The factory, which is being built in the area of ​​Tseri, outside of Nicosia, is considered, according to the company’s management, the most modern in the halloumi production category, capable of processing 250 tons of milk per day. This is an investment of about 40 million euros. This investment is expected to be combined with other investments made in Cyprus by Hellenic Dairies at the end of last August, when it acquired 49% of the historic Kourousii dairy industry in Cyprus through its subsidiary Olympus in Cyprus. Foods (Cyprus) Ltd. However, there is no decision of the Cyprus Competition Commission on the concentration in question, which was communicated to the Cypriot authorities at the beginning of November 2022. In fact, in the next phase it is possible that the Greek company will go on to acquire the remaining percentage of the Cypriot dairy industry.

In 2021, the group’s turnover was 426.75 million euros, compared to 405.45 million euros in 2020, and an operating profit of 45.37 million euros. However, in 2022 it is estimated to close with an increase in turnover, but largely inflationary, as the dairy industry as a whole recorded a decline in sales at the same time.