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Food production (bakery goods) company for sale in Cyprus

Food company for sale

Integrated Baked Goods company (Production, Wholesale & Retail) for sale

  • Sales:  24m Euro
  • Asking price: 11,25m Euro for 60%
  • Employees: <100
  • Located Cyprus
  • Reason for sale: Majority shareholder needed to enable Turnaround
  • CFIE FOS081

Overview food company

The Company has over 260 shareholders. All shares are of the same class (Common Stock) and there are no restrictions or pre-emptive rights with respect to transfer of shares. A majority of 60% is offered for sale to a financial or strategic investor to enable a turnaround of the company.

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Profile Cypriotic company

Some divisions of the Company are very profitable, while others are loss-making. Overall, the Company is cash-flow break-even, with sales of around €24 Million.  During 2011- 2013 the Company has enforced extensive cost-cutting measures and it is anticipated that it will return to profitability in the mid-term. However, liquidity is very tight due to accumulated losses from previous years, hence the decision for the sale of a majority to effect a turnaround.   

Management estimates that a capital injection of €4M will be needed to achieve the turnaround.

As a safety cushion, the company has substantial commercial & industrial property with market value in excess of €15 Million, plus production machinery & equipment with value €20Million at cost.

Activities and products business for sale

The Company has two distinct lines of business, carried out by separate subsidiaries:A Flour Mill business and a Bakery business.  The two lines of business are operated independently, with their own staff, production facilities, logistics and distribution.  The Flour Mill imports grains directly, produces and blends flours of all types in a wholly-owned, modern and fully automated 4.000 m2 factory situated on a 6.000 m2 plot. It also maintains its own distribution fleet, including flour trucks for bulk deliveries and ordinary trucks for deliveries in sacks.  Most sales are to wholesale clients (hotels, bakers, confectioners, etc) but the Flour Mill also produces it’s own branded range of household flours, which are sold at supermarkets.
The Bakery business produces ready-to-bake bread, sweets and savoury snacks in two factories. One of the   factories was fully renovated recently with new state-of-the-art machinery, at a cost of €11 Million.
The Bakery Business maintains a chain of twenty-eight (28) retail outlets (“neighbourhood bakeries”) which operate 24/7. 


  • Well established business with integrated production of baked goods – from flour to finished goods
  • High quality production standards conform to ISO22000, B.R.C. and OHSAS 18000
  • Very strong asset backing
  • Good potential to expand with exports

Information on this business for sale

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