Alkis Hadjikyriacos (Frou-Frou Biscuits) Public Ltd announces the signing of the agreement between its subsidiary Handy Snacks Ltd and Thamira Food Manufacturers Ltd for the distribution of Bakandy’s products in the Cypriot market.
According to the terms of the agreement, Handy Snacks Ltd will undertake the sale and distribution of products while Thamira Food Manufacturers Ltd will be responsible for the production, management of trademarks and the development and research of the produced and new products.
Handy Snacks Ltd produces and distributes chips and snacks (crisps, pop corn etc) and imports and distributes other food products.
This is expected to increase the turnover and the profitability of Frou-Frou Group for which – due to uncertainty in the market – no forecast of the adjusted financial data will be made.
Managing Director of Alkis H. Hadjikyriacos (Frou-Frou Biscuits) Public Ltd commented: “Our strategic cooperation with Thamira Food Manufacturers Ltd, one of the most important and best bakery industries in Cyprus, is a rational expansion of our activities to a sector that that falls under our know-how and will contribute to the growth of both companies. In this way, we are consistent in our effort to develop the distribution network and the existing infrastructure of our activities via additional categories of products of well-known trademarks. We expect that the new line of Bakandy’s products, of Cypriot production, will strengthen our relation with the consumers and the retail resellers and will improve both the productivity and effectiveness in the distribution of our products in a period of economic recession and uncertainty”.
