After buying out Nikas, Chipita plans to add more food firms to its group

After an increase of Nikas’s share capital was approved during a general meeting on Thursday, food company Chipita can now buy a majority stake in the troubled cold cuts producer.

Chipita is expected to pay up to 23.27 million euros for the controlling stake.

Eurobank, which controls 11.99 percent of Nikas, did not respond to questions about its plans for the company.

The next steps for Chipita owner Spyros Theodoropoulos concern the acquisition of Nikas and cooperations with other food enterprises within Greece for Chipita to create a major food manufacturing group, along with the expansion of its activities abroad.