Dec 25, 2020

Pummaro is under the control of Deca Investments, with the information stating that the fund’s offer turned out to be the best in the relevant competitive sale process. According to the information of “N”, only two interested investors were found in the final claim race and in the final offer the price offered by Deca is said to have been much higher compared to the proposal of the other claimant Melissa Kikiza. In any case, the project of selling Pummaro is said to be the one that will close the dance of business developments in the food sector this year. - Advertisement - It is worth noting, however, that the project of the sale undertaken by Alpha Bank “Ran” fast enough, as the emergence of a preferred investor was achieved within three months from the date of notification of the intention of Elais – Unilever to put a “store”. Therefore, the strong domestic brand of Pummaro enters the portfolio of Deca Investments, which already has a presence in the production, processing, standardization of tomato and fruit juices through Damavand SA. Then and now It should be noted that the acquisition of Pummaro by Deca takes place almost a year and a half after the acquisition of Minerva Oleourgiki, for a price of 41.5 million euros that took place in August 2019. It is interesting that in the case of Minerva, the high The price was what determined the dominance of Diorama Investments, managed by Deca Investments, and the withdrawal from the competition of the pasta industry Melissa Kikizas, who was also a key contender. Regarding the dynamics of Pummaro, it has always held leading shares in the category and as it pointed out in the announcement issued by Elais – Unilever – through which it announced its intention to re-evaluate the tomato industry – “in the first and so critical half of 2020 Pumarro recorded significant growth “. The activity of the industrial tomato, through the Pummaro brands, records significant export performance, which in 2018 amounted to 25,000 tons. It is indicative that about 45% of the production is exported, with the main selling markets being Poland, France, the Netherlands and England (s.s . : the export concerns tomato juice as raw material and not packaged final product). The tomato factory in Gastouni, through the contract cultivation program with 100 producers and through the application of sustainable practices, showed in 2018 production of 45,000 tons in arable land of 5,600 acres, while the dynamics of Pummaro turnover in 2017 ranged at 24 million euros, while It has since been estimated to have fallen to € 12 million. As far as Elais – Unilever is concerned, the deal for Pummaro comes three years after the decision to sell the olive oil and margarine activities, with the result that the productive presence of the strong group is limited only to the facilities in Renti. These were the details of the news Acquisition of Pummaro by Deca Investments en for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new. It is also worth noting that the original news has been published and is available at en24 news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.