Elikonos Capital has announced an investment in A. Vezyroglou S.A., taking a minority stake. The company, based in Alexandria, Imathia, is a vertically integrated producer and processor of baby-leaf and other leafy vegetables, as well as ready-made salads. This is the sixth investment by Elikonos 3 S.C.A. SICAV-RAIF.
The company was founded in 2006 by Antonis and Ioannis Vezyroglou, continuing a family farming tradition that spans more than a century. With annual production of more than 3,000 tonnes, it is Greece’s largest producer of baby-leaf vegetables.
Its fully integrated operating model is a key competitive advantage, according to the announcement, covering every stage from sowing, cultivation and harvesting to the sale of the finished product. The direct transfer of produce from the fields to the company’s own facility, together with gentle processing, helps preserve freshness and quality, with control and traceability at every stage.
Its products are sold through major supermarket chains, supplied to HoReCa customers and exported to Balkan countries. The company’s brand is closely associated with the country’s agri-food sector.
The company recently completed an investment of more than €12 million in a new, state-of-the-art 7,000 sq m facility in Schoinas, Alexandria, next to the Vezyroglou family’s fields. The facility incorporates technology for gentle processing that is pioneering in Greece, preserving the vegetables’ nutritional content.
Sustainability is central to the company’s operations, from gentle farming practices in its privately owned “Vezyroglou Gardens” in Greece through to processing, with a focus on preserving the freshness and nutritional value of its vegetables. Water recovery at the new facility and its strong impact on the local community round out its approach to responsible growth across the agri-food chain.
The investment will fund the next phase of the company’s multi-year investment programme, with a focus on expanding agricultural production through the development of new greenhouses, as well as adding production lines to enter higher value-added fresh produce categories, such as ready-to-eat salads, washed and cut vegetables, and ready-meal solutions.
Antonis Mavridoglou, Partner at Elikonos Capital, said:
“We are particularly pleased to be partnering with A. Vezyroglou S.A., one of the country’s most modern agri-food businesses. Control over production, a focus on freshness and quality, and the new facility provide a strong foundation for growth. The company is ideally placed to benefit from the growth of the fresh, ready-to-eat produce market, and we look forward to supporting the management team in the next stage of its development.”
Antonis Vezyroglou (pictured), Founder and CEO of A. Vezyroglou S.A., said:
“Our partnership with Elikonos Capital marks a new era for our company and will help us accelerate investment and growth. With the new facility up and running, we are ready to expand production, bring new products to the shelves and take the freshness of our fields to even more tables.”