SMERC acquires stake in Greek bean giant AROSIS

Another deal in the food industry was announced today. The deal concerns the agreement of the investment fund SMERemediumCap (SMERC) with the Fotiadis family, main shareholders of the AROSIS company, for the acquisition of a strategic shareholding in the company and its capital reinforcement by issuing a convertible bond loan.

AROSIS has been active mainly in the field of pulses for the last 66 years in Greece, with production facilities in the area of Kastoria. Among other things, it has Kastoria PGE Gigantes beans and Grevena lentils.

As stated in the relevant press release, the collaboration aims to strengthen the company, with the aim of expanding its market share and developing a strong sales network abroad.

The two sides pledge to work closely together to implement an ambitious business plan.

Mr. Tryfonas Fotiadis will remain in the position of Managing Director and will lead the company’s investment and development program, so that it continues its upward trajectory without interruption.

“The main business goal of the above investment is the creation of a pioneer, leading food organization, both through organic growth and through new investments and partnerships that will offer a wide range of high quality products in the wider field of pulses”, the announcement concludes.