Chrysostomos Mavropoulos, known in the market as Mr. Freskoulis, continues to expand his business footprint beyond the fresh vegetables and salads of Eurocatering.
This time, the investment plan goes through Daily Taste, the industrial catering and ready-meal production company. The company approved the provision of a corporate guarantee in favor of the affiliated MC Ktimatiki IKE, so that the latter may obtain a long-term loan of 696,000 euros from Piraeus Bank for the acquisition of an industrial property in the Tripoli Industrial Area.
The property being acquired for 870,000 euros is located on a plot of 8,925 sq.m. and includes industrial facilities with a total area of 2,652 sq.m., while a down payment of 174,000 euros has already been paid.
According to management, the facilities will be leased to businesses that supply raw materials and products to Daily Taste, strengthening the vertical integration of the group's production activity.
MC Ktimatiki was founded in 2021 with initial capital of 200,000 euros and sole partner Chrysostomos Mavropoulos, serving as the vehicle for managing his real estate assets. Since then, its corporate capital increased to 4.23 million euros, while a plan for the partial demerger of the real estate branch and the establishment of MC Ependytiki IKE is underway, which will start with net equity of 3.87 million euros.
Transferred to the new company, among other things, is a property in Palaio Psychiko with a book value of approximately 3.87 million euros.
As for Daily Taste, it was converted in 2022 from an LLC into a Société Anonyme, with valued net equity of 1.51 million euros and 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 (latest published balance sheet), turnover increased to 13.69 million euros from 12.31 million euros; however, EBITDA was limited to 244 thousand euros from 737 thousand euros, while the year closed with losses of 402 thousand euros, compared with net profits of 197 thousand euros in 2022.