For decades, the family-owned Mitsopoulos Farm stood behind a product that consumers bought without knowing who produced it. In recent years, the Corinth-based company has been working to change this dynamic by investing tens of millions of euros in production, automation, and new branded products, with the goal of transforming pork from a commodity into a branded product—and one that flies the Greek flag.
According to management, production volume reaches 100 metric tons per shift, and total production stands at 100,000 piglets, while the goal is to develop partnerships with pork producers following the model used by poultry producers to increase its production capacity.
In terms of financial performance, the company closed last year with a turnover of 55 million euros, while this year’s target is set at over 60 million euros. Behind these figures lies a partnership that spans nearly half a century. “Our relationship with AB Vassilopoulos dates back to the time of Gerasimos Vassilopoulos,” says Tasos Mitsopoulos, one of the three main shareholders.
Today, 30% of the company’s total revenue—or approximately 17 million euros annually—comes through AB Vasilopoulos, with sales recording double-digit growth compared to last year. Overall, organized retail accounts for 80%–85% of the company’s sales, confirming the pivotal role of supermarkets in shaping the meat market. However, it does not sell exclusively to retailers. Its customers include companies such as Grigoris, Jackaroo, L’Artigiano, Pizza Fan, major catering companies, and restaurant chains.
However, despite the increase in revenue, profitability remains under pressure. “The biggest problem is energy. It affects us in production, processing, refrigeration facilities, and transportation,” explains Tasos Mitsopoulos. EBITDA currently hovers around 4%–4.5%, a level that management aims to improve through an extensive investment program. An investment plan totaling 30 million euros has been underway since 2023 and is set to be completed in 2030.
The funds are being directed toward modernizing the facilities, which have been in operation since 1990. The new phase includes robotic systems, automation, cutting lines, and advanced packaging technologies. The goal is not only to increase productivity but also to address a problem that is already looming on the horizon.
“The biggest issue in the coming years will be the labor shortage. We currently employ about 350 workers. Automation isn’t meant to replace people but to ensure that we can continue to grow in an environment where finding staff is becoming increasingly difficult,” he notes.
But the real challenge lies elsewhere. The company is increasingly focusing on meat products and ready-to-eat or pre-cooked items, a category that currently accounts for 6%–7% of revenue but is growing rapidly. In this context, a new production facility for pre-cooked products is being planned. The company has already developed a range of products, such as pork cutlets made from a single piece of meat, pork nuggets, and specialty items.
Despite the consolidation seen in recent years in the Greek food market, the Mitsopoulos family is not considering any sale scenarios. “In Greece, everything gets sold if someone knocks on the door with an unrealistic offer. But we don’t operate under that logic. We’re not looking for a lifeline,” he says emphatically. The company maintains a low level of bank debt, approximately 4 million euros, while the shareholding base remains in the hands of the three Mitsopoulos brothers, each of whom controls 33.3%.
Instead of a sale, management is considering acquisitions that could expand its presence into new protein categories. “Our plans are to make acquisitions, not to be acquired. We are interested in establishing a presence in other production categories as well. Veal is one of the options we are considering,” says the second generation of the company.