Greek funds increasingly turn to foods sector for opportunities

Investment funds are increasingly putting their money into small and medium-sized firms.

In the past couple of weeks two deals in the foods sector were announced: In one, investment funds SMERC and Inspiring Earth have joined forces to invest in three olive oil producers (Latzimas SA, LASITIA SA and Olympian Green International SA) with the avowed goal of creating an export-oriented "national champion."

The targeted markets are the biggest global importers of olive oil, namely the US, Brazil, Australia and Japan. SMERC, headed by former banker Nikos Karamouzis, is not a newcomer to the sector; it is also looking to acquire majority stakes in cosmetics and food supplement firms.