IDEAL Holdings wants to raise its value to €1bn over the next five years through further acquisitions and investment in the companies it already controls. Its chief executive, Lambros Papakonstantinou, has left open the possibility of a new deal within the next six months.Speaking to journalists on the sidelines of an event marking IDEAL Holdings’ fifth anniversary, he set the bar even higher after the group’s market capitalisation rose from €70m in 2021 to €300m today. Growth will be driven both by expanding existing operations and by adding new businesses. For now, however, there are no plans to sell any of its holdings.
“For me personally, this anniversary (the first five years of Ideal Holdings) means something more. It is a promise of what is to come. A promise for the next five years,” he said.
A significant part of the investment plan concerns Barba Stathis, which plans to make investments of more than €70m over the next three years to increase its production capacity. The company, which has been present in the Greek market for 55 years, works with more than 600 Greek farmers and 1,500 suppliers, maintaining strong ties with domestic primary production.
Byte is expected to generate more than €125m in revenue this year, compared with €11m from the business that marked the start of the investment journey in 2021. It is targeting further growth of more than 30% over the next three years.
At Attica Department Stores, sales are expected to exceed €290m this year, up from €190m in 2023, a rise of more than 52% over three years.
Today’s IDEAL was created in 2021 through a reverse listing on the Athens Stock Exchange, with three holdings and a market capitalisation of €70m. Five years later, its market value exceeds €300m, total investment in the Greek economy is more than €400m, and the group’s businesses employ 3,400 people.
Mr Papakonstantinou explained that the decision to list on the stock exchange was a deliberate one, as it enabled the group to grow under rules of transparency, accountability and corporate governance.
A central pillar of IDEAL’s strategy is choosing businesses rather than sectors. “We invest in companies, not sectors,” the head of IDEAL said, placing particular emphasis on the quality of management teams. “Capital alone is not enough,” he noted, explaining that a business also needs “ambition, new ideas, strong management and partners” to grow.
Mr Papakonstantinou spoke in particular about his decision to return to Greece to pursue business in 2017, when economic uncertainty was still keeping many investors away from the country. “But I have always been drawn to challenges. And Greece in 2017 was undoubtedly one such case,” he said.
Despite the conditions, he saw opportunities. “I saw good Greek companies, with solid foundations, talented people and a history they could be proud of. Businesses with the potential to become something much bigger,” he said. This realisation led him and a small group of partners to decide to invest in the Greek market.
“Our idea was simple. To bring together capital, expertise and people to help good businesses become even stronger.” “We wanted to build something that would stand the test of time,” he stressed, adding that the aim from the outset was to create long-term value for shareholders and make a meaningful contribution to the Greek economy. Five years after the creation of the new IDEAL, the €1bn target significantly raises the bar.