The acquisition of 75% of Lavdas S.A. from the historical chocolate manufacturer ION S.A. has been completed. It is noted that ION, with a history of 94 years, has been active in the caramel industry from 1930 to 2016, offering products under the names BALOO and O' MAMY.

Lavdas, which has been active in the candy industry since 1953, is one of the most powerful players in the domestic market, having developed an expanded portfolio with popular products such as Jelly Pop, Eclair, Charleston, Geneva, Ageladitsa, Lavdas, Golden Milk, Piccolo, Gum On!, while a major recent success is the creation of the Zero product. At the same time, it has penetrated the markets of Europe, the USA, Asia and the Arab countries, where it targets more than 50% of its products.

According to a statement, the acquisition is an important milestone in the strategy of the two companies, aiming to strengthen and grow in the markets where they operate and create additional value for employees, partners and consumers.

Tina Kotsiopoulou, President of ION SA, said: "It is with great pleasure that we welcome LAVDAS to the ION family, but also with the respect due to the history, expertise and heritage of the most important candy company. The completion of the acquisition demonstrates ION's commitment to play a leading role in the chocolate and confectionery sector and to continue to develop and market products of exceptional quality and high standards. A commitment that we share with the people of LAVDAS along with our common values and business ethos."

Stelios Lavdas, who remains a 25% shareholder and assumes the duties of chairman of the company, said: "I am very pleased that two historic industries in Greece are working together with all the benefits and synergies this entails. I am confident that with ION's cooperation and LAVDAS' expertise in the field of caramel, we will continue to grow and innovate, remaining true to our quality and values."