About Agrifreda S.A.
Established in 2000 and headquartered in the Aridaia agricultural area of Pella prefecture, Agrifreda SA is one of the strongest SME food companies in Greece with activity in the production, processing and trade of frozen fruits and vegetables, bottled water, tahini/halva and confectionery products. The company currently has three different production facilities (37k sqm in total) and occupies 45k sqm storage facilities.
During the crisis 2013-19, the company has recorded significant growth rates both in sales and EBITDA, +17% and +23% CAGR respectively, generating also strong cash flows. In 2019 company’s sales were € 37.5m, EBITDA € 6.7m, Net Cash position € 5.8m and book value of Equity € 30.1m. In the period of Covid-19 unprecedent crisis the company has not only managed to sustain its sales and profitability, but also to increase its liquidity.
EHRF’s funds will be used to support the company’s ongoing investment plan including new production lines in frozen fruits, new production plant for cocoa products, new bottled water facilities, machinery equipment for halva/tahini, construction of new warehouses for cold storage, etc.
EOS is the external Alternative Investment Fund Manager of EHRF, a private equity fund with approx. € 120m in AUM, focusing in growth capital investments in Greek SMEs across all sectors. The key cornerstone for the creation of EHRF, was its participation in the Equifund Fund of Funds program. EquiFund investment platform is an initiative created by cooperation between the Hellenic Republic and EIF. It is financed by the Greek ESIF Fund of Funds TAESYM under the European Union / European Regional Development Fund / Operational Programme EPANEK, the EIF and private investors, with the objective to facilitate access to finance, mainly to SMEs, by developing the Venture Capital/Private Equity (“VC/PE”) in Greece in cooperation with selected Financial Intermediaries.
EOS investment strategy focuses on SMEs with a healthy financial position and a solid value proposition looking for capital to achieve their growth potential either organically or inorganically through mergers and acquisitions.