AGNO products: When they will return to the Greek markets

What Dimitris and Michalis Sarantis know how to do well is to bring forgotten companies back to the forefront. It happened with Olympus. It happened with Rodopi. Will it happen with AGNO?

We will soon find out, as the Thessalian Hellenic Dairies group of the Sarantis brothers is soon to reintroduce the AGNO products to the Greek market.

The relaunch of some – but just a few –  AGNO products has already started, according to ot.gr. More specifically, shortly after Christmas this year or in early 2023, 10 AGNO trademarks (milk, yoghurt, cheese, etc.) will be found again in supermarket fridges. However, at the beginning, the products will not be distributed all over Greece, but mainly to Central Macedonia.

If the products manage to “pick up” market share in Thessaloniki and Macedonia in general and, if they are then in demand in Southern Greece, as well, distribution will be expanded. It should be noted that in total there are about 15 AGNO trademarks that have been transferred to the group.

The products will be produced at the Olympos factory in Larissa and at the Tiras factory in Trikala.

What about ice cream?

In addition to milk, yoghurt, cheese and butter, AGNO also produced ice cream, a product that once had a significant market share.

The expansion of its market to ice cream products, a category in which the Hellenic Dairy Group had no presence – until today – is, however, a great possibility.

It is recalled that Sarantis brothers’ group expanded its market share to AGNO a few months ago, “closing” the cycle of barren auctions for the historic dairy, for which, it should be noted, TYRAS had already expressed interest in 2003, when the cooperative dairy was purchased by Kolios in the tender of the Agricultural Bank.

Along with the aforementioned trademarks, a large plot of land, covering an area of more than 130 acres, where the AGNO factory in Lagada, Thessaloniki, is located, and the mechanical equipment, which is largely depreciated, are also transferred to the group.

Seven acquisitions

From 2022 to date, Dimitris and Michalis Sarantis have made seven acquisitions, the majority of them by participating in auctions.

The exception are the two recent additions to the portfolio of the Hellenic Dairy Group, which has become a “giant” with a presence in yoghurt, juices, herbal drinks, tea, children’s milk and yoghurts, sparkling bottled water, soft drinks, etc., having a turnover of about to 430 million euros.

The transaction involves the acquisition of United Milk Company (UMC), a subsidiary of Delta in Bulgaria, and the acquisition of a stake in the share capital of the Cypriot dairy company “Kouroushis” with management rights and a provision for the acquisition of 100% of the shares.

With the acquisition of UMC, the Hellenic Dairy Group, already active in production in both Bulgaria with TYRBUL SA and Romania with TYROM, further strengthens its footprint in the Balkans.