Merger of indebted Greek Cold Cuts producer Creta Farms has been credited to the Dutch-Bulgarian investor Impala Farms by a local court. Impala farms already own manufacturing units in Bulgaria.
Court of First instance, Cretan City-Rethymno has approved the re-structuring plan filed by the Impala Farms. Previously it also got “Go-to Green Flag” from the Green Bank with debt deposit of 64%. Impala Farms will also look after the company’s debt and will be fulfilling the repayment of EURO58.5m of company’s total debt of EURO 162.9 m.
Dimitri’s Vintzileos who is Greek National Stakeholder and Shareholder in Impala group stated in a media report ” we are very satisfied with final acceptance of the investment request by the competent court. Our goal is that Creta Farms become world leader in the near future. Impala group is dedicated to offer high quality and innovative products to its customers”.
Impala already look after 9 farms in Bulgaria that produces pastries,meat products and oils.
Accordingly the business plan proposed by Impala investment group the profit-making steps will boost the company with gain of EURO 64m in the first financial year and EUR165m in 11th Financial year.
Creta Farms has well sprawling manufacturing units at City of Rethymno, north crete and Krioneri,North of Athens. It also owns storage units at Cretan capital, Herakion, Patras and north Greece.
Company’s sales market sprawl is in many countries including US,UK, Cyprus, Australia and Greece itself.