Mantis group acquires the historic winery of Malamatina
A new chapter opens for the historic Greek winery "Malamatina", with the seal of the Mantis group of companies. According to the decision of the Multi-Member Court of First Instance of Thessaloniki on December 22, 2021, the company officially joins the potential of the leading distributor in the Greek market, thus ensuring the continuation of a successful course of 127 years, but also the conditions for dynamic development in the future.
The main priority of the Mantis group of companies is the implementation of an investment and business plan for the strengthening of the company, which will significantly strengthen its position in the Greek and foreign market, while adding value to the local economy of Thessaloniki and the income of Greek farmers. as mentioned in a relevant announcement.
According to the consolidation plan that was ratified, a new company was created, the Malamatina Winery SA, based in Thessaloniki, to which part of the assets and liabilities of the old company were transferred. The management of the new company is taken over by Mr. Nikos Keranis, as managing director and Shareholder, while Mr. Costas Malamatinas remains an active member of the Board of Directors, thus ensuring the administrative and historical continuity of Malamatina.
The plan also includes the implementation of significant investments, which will expand the portfolio of Malamatina with 100% Greek products, utilizing the treasures of the Greek soil. The production of quality products, which is a timeless feature of the company, will be further ensured by the integration of new technologies and advanced control systems in all its wineries.
These investments are expected to increase the profitability of “Malamatina” and return it to a trajectory of dynamic growth and strong cash flows. Specifically, based on the consolidation plan, “Malamatina” under the management of the Mantis group of companies, is expected to show net profits from the second year.
“Malamatina is an emblematic product, which has been loved by generations of Greek consumers. It has entered our homes, it has been identified with our most beautiful moments. Especially for us Thessalonians, apart from being a part of our life, Malamatina is also a company that offers time to our local community. So I’m very proud to be at the forefront of her new era. Commitment of all of us to the Mantis Group of Companies and my personal goal, is for Malamatina to remain a strong business force for Thessaloniki and for Greece. A company with quality products that combine tradition and innovation, to add value to consumers, the local and national economy. We start with enthusiasm for the next day, which will ensure not only continuity, but also a new, creative chapter in the history of the company “said Mr. Keranis, new CEO of the company.
The addition of “Malamatina” to the Mantis group of companies is part of an ambitious investment plan, with the strategic goal of creating high quality products that meet the demands of consumers, while highlighting the wealth of the Greek land, the history and the traditions of the place.
The acquisition took place in the context of a competitive process conducted by Ernst & Young on behalf of the Banks and the company Malamatina itself, while “PricewaterhouseCoopers Business Solutions SA” (PwC) acted as the sole financial advisor, the law firm of Mr. Kostopoulos and associates and “M. PYLLA – V. VYZAS – G. KATRINAKIS Law Firm “, member of the international legal services network of PwC, acted as legal advisors of the Mantis Group of Companies.
- Written by E.Tsiliopoulos
