Turkish seafood, frozen, and canned food producer Dardanel Onentas Gida Sanayi AS has completed all the necessary regulatory and financial processes to take ownership of G. Kallimanis SA.
Dardanel has reached the final stage in the takeover process of Kallimanis, with the acquisition aimed at increasing the former’s export coverage as a global brand, reports Turkey’s Daily Sabah.
Kallimanis’s commercial and industrial assets, comprising real estate, factory buildings, land, production machinery, trademarks, licenses, and titles will be purchased in accordance with a decision set to be taken by the Greek liquidation courts. As part of the transaction, Dardanel will pay off the Greek frozen seafood company’s debts. According to the statement made by Dardenel to Turkey’s Public Disclosure Platform (KAP), it plans to purchase the company's banking debts of approximately EUR 62.3 million (USD 73 million), by payment of a total of EUR 6 million (USD 7.3 million).
Çanakkale-based Dardanel will then apply to the Greek courts to transfer the commercial and industrial assets of Kallimanis and transactions will be carried out through its presence in Greece, Dardanel Greece SA.
On completion of the purchase, Kallimanis' facilities are expected to start production at full capacity, with an view to expanding its customer base in northern Europe, the Mediterranean, and the Balkans.
Established in 1956 in the small town of Aigio in the Peloponnese, Kallimanis employs approximately 150 people, and has a 25 percent share of the Greek market.
