Alkis H. Hadjikyriacos (Frou-Frou Biscuits) Public Ltd announces that it is in mature negotiation to reach an agreement with EVRIKA Ltd for the acquisition of the MON AMI industrial unit and brand.
The signing of the agreement will be subject to the approval of the Commission for the Protection of Competition and the conduct of a due diligence.
The acquisition is expected to affect positively the turnover and the profitability of the Group. Due to the prevailing uncertainty in the market, no forecast on the sale or profitability will be made.
It is clarified that this agreement is not related to the recent distribution agreement signed between the subsidiary of Frou-Frou Group Handy Snacks Ltd and Thamira Food Manufacturers Ltd on the trade of Bakandy’s products.
Further details will be released with the completion of the agreement.
