Cvc Capital Partners acquires Dodoni cheeses
The current owners of SI Foods will remain active shareholders and continue to manage the company
The private equity firm CVC Capital Partners has agreed to acquire a majority stake in SI Foods Holding, taking control of the Greek dairy company Dodoni. The brand produces a range of cheeses such as feta and halloumi. The partnership was created to increase Dodoni's presence in the special cheese sector through investments and possible acquisitions both in Greece and abroad. The deal comes just weeks after CVC completed the acquisition of the Greek food company Vivartia.
Under the terms of the agreement, the current owners of SI Foods will remain active shareholders and continue to manage Dodoni, its subsidiaries and operations. In 2012, Dodoni was privatized by the Greek state and sold to SI Foods. Since then, successive owners have invested in the company's manufacturing facilities, organization, sales and marketing. SI Foods reported that Dodoni's revenue almost doubled, and about 50% is due to exports. The company has also increased the number of its employees from 270 to over 600 in Greece. CVC Funds has invested or committed more than € 1 billion of equity since 2017 in the acquisition of companies including Hellenic Healthcare Group, Skroutz and Vivartia.
EFA News - European Food Agency