The VIVARTIA Group is undergoing a process of strategic restructuring with its focus on developing its operations in Greece. In this context, after the acquisition of MEVGAL the Group announced the signature of a preliminary agreement to sell 90% of VIVARTIA CYPRUS LTD to Cypriot businessmen Alexis Charalambides and Menelaos Siakolas for a consideration of €42 million. DELTA FOODS S.A. will retain a 10% stake. Through the said agreement VIVARTIA products will continue to be marketed in Cyprus.

Mr Giannis Artinos, CEO of Vivartia, stated regarding the agreement: “VIVARTIA CYPRUS is one of the oldest dairy product companies in Cyprus with a successful course and high quality products that have gained the trust of Cypriot consumers. The new shareholder composition, thanks to the experience and successful track record of Messrs Charalambides and Siakolas, guarantees the company’s further growth.”