The investment plan of ARZYBAKE S.A., owned by Michael Arabatzis, the "king" of frozen dough, has been open for public consultation since Tuesday morning, regarding the creation of a new industrial plant for frozen dough products.
The investment, amounting to €21.9 million, involves the construction of a fully automated frozen dough products production facility by ARZYBAKE S.A., which will be located in the Thessaloniki Industrial Area on leased property.
The facility is expected to produce puff pastries, croissants, as well as pita and bougatsa products, through five production lines, four of which will be dedicated to pita products and one to puff pastries/croissants.
This is a business sector particularly familiar to Mr. Arabatzis, who, in addition to holding a 25% stake in Hellenic Dough—which is owned by CVC— has associated his name with the leading brands in the frozen dough sector.
The new investment includes the construction of industrial facilities and the procurement and installation of equipment covering all stages of the production process, from fermentation and processing to freezing, packaging, and storage of products, with rapid freezing as a key stage. The company is seeking to have the investment included under the “Strategic Investments 2” scheme of Law 4864/2021, claiming tax incentives, while the project is expected to create 55 new jobs.