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International investment firm CVC Capital, which manages assets worth more than $ 105 billion, will likely be the new owner of the largest dairy producers in Bulgaria.
The company has submitted an offer to acquire a 92.1% stake in Greece’s Vivartia Holdings, which was acquired years ago by the United Dairy Company of Bulgaria (OMC). The offer was sent to Marfin Investment Group (MIG), which currently has this stake in Vivartia, according to an official statement from the owner.
It does not clarify the parameters of the offer, but MIG confirms that the board has given carte blanche to start negotiations. An agreement is expected in early November.
Vivartia is a leading Greek company in the food industry, operating in three areas: production of dairy products and beverages under the Delta and UMC brands, frozen foods and services in the food sector.
In 2007, the company acquired the “United Dairy Company” of Bulgaria, which produces the brands “Vereya”, “Rusalka”, “Fibela” and “Hansko”. The agreement was then worth 18.7 million euros. The company is the successor to several dairies in the country, operating since the late 1950s in our country.
As of 2019, OMC reports revenue of BGN 88.4 million. At the end of last year, the company employed just over 500 people in Bulgaria.
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