ION: Greece's favourite chocolate is now in the hands of Spyros Theodoropoulos

Ion Chocolate

About a year since the official acquisition of 45% of ION and fifteen months since Spyros Theodoropoulos joined hands with Tina Kotsiopoulou and the other heirs-shareholders, the well-known businessman is now preparing to take over the historic chocolate industry.

According to New Money, activating the option, which was included in the agreement of the two sides, to acquire the majority of the shares from Bespoke SGA Holdingscould only be a matter of days.

It is noted that based on what had become known, the option provided for an increase in Bespoke SGA's percentage to 75%, although market sources insist that Theodoropoulos could eventually acquire 100%.

Spyros Theodoropoulos
Spyros Theodoropoulos

In any case, preparations have already begun for the new era of ION as the "helm" will pass to Theodoropoulos, who has not hidden that the chocolate industry has a vital role in his plan to create a "national champion" in food.

It should be noted that the Board of Directors has already convened the annual shareholders' general meeting for Thursday, June 29, where, among other things, the new Board of Directors will be decided.

Although the first chocolate recipe has been manufactured since 1927, the company was formally incorporated in 1930. The main factory is located in Neo Faliro Pireaus.

The company has grown to be one of Greece’s 50 largest companies with annual sales of over €100 million. In 1988, Kraft Jacobs Sushard (KJS) acquired 24.5% of holdings, which were bought back by the main shareholders in 1998.

Over the years, ION introduced other chocolate varieties confectionery products such as croissants and spreadable chocolate. However, it is best known for its almond milk chocolate variety.

READ MORE: Binance Seeks to Withdraw Cyprus' Unit Crypto Service Registration.

Copyright Greekcitytimes 2024