Vivartia to invest EUR 800mn in CEE

The Greek food company Vivartia has earmarked EUR 800mn for investments in Central and Eastern Europe until 2012. Most of the funds are directed to its milk business in Bulgaria and Cyprus but expansion on the pastry and bakery markets in the two countries is also envisaged. The company intends to invest in frozen fruit and vegetables in Bulgaria and Romania . Vivartia also plans to expand its network of fast-food chains. Main trade marks of the Greek company are the ice-creams Delta, pastry 7 Days and the fast-food chains Goodys, Flocafe and Uncle Stathis. In the spring, Vivartia acquired the country’s largest milk processing and packaging company United Milk Company, which produces UHT milk, yoghurt and cheese products under the brand names Vereia, Fibella, Vitalact, Khansko, and Russalka.