At the time, St George’s Mills was actively investigating the possibility of developing flour milling activities in the region. Discussing such possibilities with Emporiki VC, the opportunity to build the market leader in the field of cereals processing and cereals’ based products in the region -which would develop branded high margin innovative products and their retailing- was jointly defined. Convergence of objectives and alignment led to launching.

Simos Sikiaridis, Senior Counsellor at Emporiki VC, was the project manager for such investment.

SGMC proceeded to acquire control in related companies and successfully managed post-acquisition restructuring. In Romania, SGMC acquired Titan-Bucharest (1997) and Mopan-Transilvania (1998), both integrated cereals’ processors & food retailers. In Georgia, SGMC acquired “Spaghetti 94”, a pasta factory in Tbilisi, and cooperated with the Elita Four Mill in Gori.

Exit of Emporiki VC was executed in 1999, St George’s Mills buying out the other
shareholder in SGMC, following the acquisition of St George’s Mills by Loulis Mills.

Harvard Business School case “Identifying & Realizing Investments in E Europe”
(HBS # 9-701-086 & 9-701-087 June 2001 http://www.hbsp.harvard.edu) was
based on this investment.

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