The agreement marks the final step in the successful restructuring process of Dodoni S.A., which lasted just over 10 years. The agreement follows the sale of a 78% stake to CVC in 2021 and the subsequent successful completion of the last phase of Dodoni S.A.'s investment program, which the company initiated three years ago to further improve its efficiency and capabilities.

The announcement states:

SIF acquired DODONI S.A. in 2012 from Agricultural Bank when the latter was under compulsory administration. This transaction was the first privatization by the Greek state during the economic crisis. At that time, DODONI, the largest feta cheese producer in Greece, was close to bankruptcy with significant unsold inventories, high debts to banks and farmers, and had suffered the consequences of long-term underinvestment.

The new owners launched an ambitious, long-term restructuring plan to revitalize the company, maintaining high-quality standards and authentic production practices, preserving its iconic heritage in Northwestern Greece. Not only were all of the company's debts to banks and over 5,000 milk producers fully paid off, but since then, the company has also purchased over 750 million liters of milk, providing strong economic support to the Epirus region.

Over the last 10 years, DODONI S.A. has almost doubled its total sales and tripled its exports. With their initial positioning and subsequent investments, the last 10 years have seen SIF secure an inflow of almost €75 million into the Greek economy. Additionally, employment increased from 270 to 490 positions in Greece (+81%), in addition to the 130 new employees at the factory built in Cyprus. Furthermore, SIF enabled DODONI S.A. to become one of the top dairy companies globally in terms of sustainability, ranking among the top 1% of dairy companies worldwide.

All the achievements of recent years would not have been possible without the dedication and commitment of the employees and management, as well as the steadfast support from the milk producers of DODONI S.A. for whom the investors are truly grateful. They are convinced that the employees and milk producers will continue to be an integral part of the company's ongoing success.

The shareholders of SIF once again express their gratitude for the welcome they received from the Epirus community. They are pleased to have played a decisive role as a supportive factor in the broader region, supporting local milk producers through DODONI S.A. all these years. Moreover, they are proud to have transformed DODONI S.A. into a successful and strong player in the Greek and international dairy market, with a strong management team that they are confident will continue to be successful and play a significant role in the wider dairy sector of the Vivartia Group.