CVC makes €175m offer for Vivartia

The firm is currently investing from its eighth-generation fund, which closed on €21.3bn in July 2020. The fund will invest in companies with enterprise values of around €1-5bn with equity ticket sizes in the range of €200m-1bn.

Marfin Investment Group, the Greek financial entity, is the vendor of the company, and is expected to announce its decision after its board has assessed the offer.

News of Vivartia's potential sale was first published in 2018, following which, Marfin announced it would not be selling. In September 2019, Marfin received an offer for 92.1% of the company from Emma Capital, which was not accepted.

CVC first made an undisclosed offer in September 2020 for 92.1% of the company. Marfin's board granted an exclusivity period until 6 November. On that date, Marfin confirmed that its board had extended the exclusive negotiations period with CVC for its food subsidiary, to 30 November, as previously reported.

Marfin acquired a 34% stake in Vivartia in July 2007 and continues to expand its stake, reaching 86% in December 2011. Marfin now holds more than 92.1% of Vivartia.

Vivartia was established in September 2006 and presently operates in the dairy and drinks sector through Delta Foods, the food services and entertainment sector through Goody's and Everest, and the frozen foods sector through Barba Stathis. It is based in Tavros and employs 6,500 people.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• CVC Capital Partners
• Greece
• Carve-out