Italian milk production chain Granarolo has acquired 50.01% of leading Greek diary distributor Quality Brands International (QBI).
QBI is a local distributor of European dairy products, including Granarolo, and is majority owned by the Panteliadis Family.
This acquisition will enable Granarolo to consolidate its operations in Greece, where the company is the leading Italian dairy product brand in the country.
Important Market
According to the president of Granarolo Group, Gianpiero Calzolari, Greece is especially important to the company because it has one of the highest per capita consumption levels of cheese in Europe. He added that, together with its Greek partner, the company has set a target of €23 million in turnover in 2017, compared to €20.2 million in 2016.
The president of QBI, Stefano Panteliadis, said that the agreement will significantly reinforce the importance of QBI as a regional player in the cheese market in Greece, the Balkans and Cyprus.
It will also expand the distribution of Epirus cheese products through Granarolo's international distributor network to about 20 countries where QBI currently has no presence.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
