Chrysostomos Mavropoulos, known in the market as Mr. Freskoulis, continues to expand his business footprint beyond Eurocatering’s fresh vegetables and salads.
This time, the investment plan involves Daily Taste, the industrial catering and ready-meal production company. The company approved the provision of a corporate guarantee in favor of its affiliate, MC Ktimatiki IKE, so that the latter could obtain a long-term loan of 696,000 euros from Piraeus Bank for the acquisition of an industrial property in the Tripoli Industrial Zone.
The property, acquired for 870,000 euros, is situated on a 8,925-square-meter lot and includes industrial facilities with a total area of 2,652 square meters; a down payment of 174,000 euros has already been made.
According to management, the facilities will be leased to companies that supply raw materials and products to Daily Taste, thereby strengthening the vertical integration of the group’s production activities.
MC Ktimatiki was founded in 2021 with an initial capital of 200,000 euros and Chrysostomos Mavropoulos as its sole partner, serving as the vehicle for managing his real estate assets. Since then, its share capital has increased to 4.23 million euros, and a plan is currently underway to partially spin off the real estate division and establish MC Investment IKE, which will begin operations with a net worth of 3.87 million euros.
Among other assets, a property in Paleo Psychiko with a book value of approximately 3.87 million euros is being transferred to the new company.
As for Daily Taste, it was converted in 2022 from a limited liability company (LLC) to a public limited company, with a valued net worth of 1.51 million euros and total assets of 6.33 million euros. The main shareholders were Leonidas Stamatelos (75%), Eurocatering (0.5%), and Chrysostomos Mavropoulos (24.5%).
In fiscal year 2024 (the most recent published balance sheet), revenue increased to 13.69 million euros from 12.31 million euros; however, EBITDA fell to 244 thousand euros from 737 thousand euros, while the fiscal year ended with a loss of 402 thousand euros, compared to net income of 197 thousand euros in 2022.