John Stephanis, Selonda executive chairman, states the new firm will be the biggest aquaculture firm in the Mediterranean Sea. (Photo: Selonda/FIS)
Selonda and Dias breed largest bass and bream producer worldwide
Tuesday, April 09, 2013, 00:50 (GMT + 9)
The Board of Directors of Selonda SA and Dias Aquaculture SA have announced that they reached an agreement to merge the two companies, thereby becoming the largest bass and bream producer in the world.
To be named Selonda, the new company is expected to have a combined total turnover of over EUR 230 million and a 15 per cent share of the global market for sea bass and sea bream, Greece’s top food export in terms of total value.
The new company will be able to sell a volume of over 40,000 tonnes, representing 35 per cent of Greece’s total production of sea bass and sea bream, and the total annual volume of exports of fresh Greek sea bream and sea bass to over 20 countries will exceed 35,000 tonnes, or approximately 87 per cent of total sales.
Selonda’s production facilities will feature 72 sea-cage farms, seven hatcheries, 14 packing stations, two processing plants and two distribution centres, and will include 12 subsidiary companies and approximately 1,500 employees.
“We are creating the leading Greek corporation in the aquaculture sector,” declared John Stephanis, executive chairman Selonda.
“The new Selonda will be a leader not only of the Greek aquaculture industry, but of the entire Mediterranean fish farming sector. By focusing on the synergies that will result from the merger as well as the product quality and other characteristics that differentiate us from the competition, the new company will adopt a more flexible and aggressive strategy in regards to penetrating an even greater number of markets abroad,” he continued.
Stefanos Manellis, CEO of the new corporation, also expressed his satisfaction and confidence in the new venture.
“During the more than 20 years that Dias has been operating we have proven that we are always a step ahead and not afraid to take bold company decisions. The merger is the first step in the now mandatory consolidation of the industry,” he stated.
The merger remains subject to the approval of the two companies’ Board of Directors, the Greek Competition Board as well as the Ministries of Development, Infrastructure, Transportation and the General Commerce Committee.
By Natalia Real