Private equity firm CVC Capital Partners VII has announced that it has reached an agreement to acquire a majority stake in Greek dairy company Dodoni from SI Foods Ltd, Dodoni’s majority shareholder.
According to CVS Capital Partners’ press release, in 2012, the leading Greek dairy and best-selling Greek Feta PDO brand Dodoni, was privatised and sold to SI Foods Ltd, a group of private investors. SI Foods will remain active shareholders and managers of Dodoni as well as its subsidiaries and operations.
The deal will help SI Foods and Dodoni to grow its presence in particular in the specialty cheese segment and related sectors with possible investments and acquisitions in Greece or abroad.
Tom Seepers, CEO of Dodoni said: “We are proud to enter into this exciting partnership with CVC enabling us to take the next step in our long-term strategy to transform Dodoni. The current shareholders and management of Dodoni remain committed to their long-term strategy of growing the company and providing stability and security to its suppliers and employees”.
The equity firm is claimed to be one of the most active investors in Greece and has invested or committed more than €1 billion ($1.2 billion) since 2017.