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Acquired Dodoni Ice Cream for €40 million | TheGreekDeal.com
VENETIS
Acquired Dodoni Ice Cream for €40 million
At a total cost of roughly €40 million, the company "Veneti" has successfully acquired the bank debts owed by the company "Dodoni Ice Cream" after a two-year period.
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Panagiotis Monemvasiotis CEO Venetis

After two years, the company "Veneti" has acquired the debts owed to banks by the company "Dodoni Ice Cream," for a total cost of about €40 million. At the same time, the purchase of all the company's shares from a foreign company based in Cyprus has been completed. The purchase is the result of a long series of negotiations with five financial institutions that had been entrusted with the management of Dodoni Ice Cream.

In particular, following a thorough review of the loans to be purchased, Venetti set up a separate company to acquire the loan receivables of Ice-cream Dodoni from the above-mentioned managers, amounting to €40 million. At the same time, the process of acquiring the shares of Dodoni Ice Cream, which required an agreement between seven different parties and the resolution of a number of unresolved issues, was completed. In this way, the entire plan for the complete takeover of the company was implemented so that it could proceed with its entry into a reorganisation process.

As stated by the President and CEO of "Veneti", Panagiotis Monemvasiotis: "Dodoni Ice Cream is a Greek company historically associated with authenticity and top quality raw materials. We all have a memory of 'Dodoni Ice Cream'. Greekness, authenticity and purity of the ingredients are the values that have always associated VENETI with Dodoni. We got our hands on the 'divine ice cream'. For us, the new trend is real ice cream. From natural milk. From a real farm that respects its animals. We are here to start a new era in Greek ice cream."

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