Entrepreneur Spyros Theodoropoulos’ strategic planning for the next day of ION, controlled by Bespoke SGA Holdings, is underway.

Having played the leading role in business deals in recent years, Mr. Theodoropoulos, who is a candidate for the presidency of the Association of Businesses and Industries, is moving forward with steady steps in creating a large-scale food conglomerate with the leading chocolate industry of the country at the forefront.

In this context, yesterday it was announced acquisition of 75% of the Lavdas caramel factory by IONwith the merger of the two historic Greek companies estimated to create economies of scale and further strengthen their growth in the markets they operate in, creating additional value for employees, partners and consumers.

With the acquisition of 75% of the Lavdas candy factory, ION is making a strong return to the confectionery sector, enriching its portfolio again. ION, with a history of 94 years, was also active in the candy industry from 1930 to 2016, offering iconic products on the market. Lavdas has been active since 1953 in the field of candy making in the Greek market while in recent years it has penetrated the markets of Europe, the USA, Asia and the Arab states where it addresses more than 50% of its products.

Mr. Theodoropoulos, vice president of ION SA, referring to the completion of the acquisition, noted that this is an extremely important agreement for the sector. “It is our great pleasure to welcome another historic Greek company, Lavdas, into our family. We share the same values ​​and ethos with the people who have built this great company. Our goal is to develop and strengthen extroversion so that we can continue to offer our products to even more consumers around the world,” he stressed. It should be noted that Mr. Theodoropoulos already owned a 25% stake in Lavdas.

This specific acquisition is not expected to be the last move of businessman Spyros Theodoropoulos, as the investigation of acquisitions of other companies in the food sector is also ongoing. Also Bespoke SGA, a holding company founded in 2022 by Spyros Theodoropoulos, to collect all his investments after agreement with Mondelez to sell Chipita, aims for a position among the leading food groups. It is recalled that in May 2021, the American multinational Mondelez International announced the acquisition of Chipita for $2 billion, in one of the biggest deals of recent years in the snack industry.

At the same time, in the plans of Mr. Theodoropoulos, according to what he mentioned recently, is the entry of Bespoke SGA on the Athens Stock Exchange within the next three to four years, i.e. the two years 2027-2028 as the significant investments in the companies that are under the umbrella of the group but also the improvement of financial performance.

In its first year of operation, Bespoke SGA acquired 43.53% of the shares of ION and 45% of I. Kotsiopoulos Brothers, which are active in the production and sale of chocolate and confectionery products. In November 2022, the company acquired an additional 2.94% stake in ION. So, at the end of the first fiscal year, he owned 46.47% in ION and 45% in Kotsiopoulos. Following a new transaction, Bespoke SGA Holdings owns the majority of ION’s shares, i.e. 60.98%, as well as 60% of Kotsiopoulos. Both companies are now subsidiaries of Bespoke.

The next steps for the “building” of the food group were the acquisition of 100% of the share capital of the company Edesma, which is active in the production of sausages, and 100% of Ambrosia, which is active in the preparation and processing of food (salads and ready meals) . Also, the transfer of 100% of the share capital of the Greek Juices company to the newly established Juice Invest was completed. This was followed by the merger of Edesma, AEP Kefalario SA and Nikas, with the absorption of the first two by Nikas, as well as the merger of Greek Juices with Juice Invest, with the absorption of Juice Invest by Greek Juices. The group is now structured with the parent company Bespoke and the activity sausages, chocolates, prepared foods and salads and non-alcoholic beverages, with subsidiaries Ambrosia, Nikas, Allantika Makedonia, Nikas Skopje, Nikas Bulgaria, Nikas Group, Greek Juices, ION and Kotsiopoulos .

According to the annual financial statements of Bespoke SGA Holdings for the first financial year (from March 2022 to December 2022) sales at group level amounted to 54.8 million euros, gross profits to 5.8 million .euros, with adjusted EBITDA being negative by 729,000 euros for the group and 1.3 million euros for the company. The results of the first year after taxes amounted to a loss of 10.8 million euros.