Greek agriculture faces an investment paradox. As rising production costs, climate instability and an ageing farming population put pressure on the viability of thousands of farms, some of the country’s strongest business and investment groups are committing hundreds of millions of euros to agricultural production.
This is not a sudden shift by investors towards traditional farming. Their interest is focused on businesses that combine large-scale production, technology, processing and organised distribution networks.
The latest investment comes from Elikonos Capital (Takis Solomos), which has acquired a minority stake in A. Vezyroglou, one of Greece’s leading producers of leafy vegetables and ready-to-eat salads.
The deal adds to a series of investments that includes the entry of the Sklavenitis group, through Glaros, into Eurocatering, known for its Freskoulis brand; the acquisition of Barba Stathis by Ideal Holdings; and the expansion of Wonderplant, in which Spyros Theodoropoulos is an investor.
The four moves involve different business models but share a common investment logic. Value lies not only in the field, but above all in controlling what happens from production to the shelf.
The case of Vezyroglou is telling. The company, based in Alexandria, Imathia, has developed a vertically integrated model for producing, processing and distributing leafy vegetables, with annual output of more than 3,000 tonnes.
It has already invested more than €12 million in a new 7,000 sq m processing facility and plans further investment of more than €20 million by 2032, expanding into greenhouse cultivation and ready-to-eat products.
The Vezyroglou family will retain control of the business, while Elikonos is acquiring a stake in a company with scope to increase production capacity and penetrate higher-value-added categories.
The market is not new to Elikonos. The investment fund previously held a stake in Eurocatering, from which it exited in 2024.
Today, 49% of Eurocatering, which sells Freskoulis products, is controlled by the Sklavenitis group through Glaros.
Greece’s ready-made salad market, worth €64 million in 2024, continues to grow. In 2025, sales rose by 10.6% in volume and 7.3% in value, according to Circana data.
For Sklavenitis, the investment has a different significance than it would for a financial investor. A stake in production offers the possibility of greater control over supply.
For Wonderplant, the challenge is primarily one of technology and production.
The company, in which Spyros Theodoropoulos is an investor alongside others, has built one of Greece’s largest hydroponic tomato-growing facilities in Petrousa, Drama.
Investment has reached €178 million, with annual output exceeding 22,000 tonnes. The next step is a new investment of about €130 million in Ptolemaida, to build a 30-hectare facility.
The business model is based on large-scale production, using technologies that allow better control of growing conditions and reduce dependence on weather fluctuations. The investment is also linked to a structural problem. Despite the country’s strong agricultural tradition, significant volumes of tomatoes are still supplied through imports. Replacing some of these imports represents an additional opportunity and challenge for Spyros Theodoropoulos.
Ideal Holdings is taking a different route into the same market. It acquired an established business with a recognised brand, organised production and a strong position in retail. The acquisition of Barba Stathis from Vivartia for €130 million in March 2025 gave Ideal control of one of the leading players in the frozen vegetable market.
The investment plan includes a further €50 million, including a new frozen vegetable plant in Larissa with a budget of €35 million, and an expansion of fresh salad production.
The common denominator across the four investments is the opportunity in a fragmented sector, characterised by small family farms and limited concentration of capital.